document.write( "Question 1136546: A person invested $7200 for 1 year, part at 6%, part at 10%, and the remainder at 13%.
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document.write( "The total annual income from these investments was $787.
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document.write( "The amount of money invested at 13% was $200 more than the amounts invested at 6%
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document.write( "and 10% combined. Find the amount invested at each rate.\r
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document.write( "The person invested $[ ] at 6%,
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document.write( "$[ ] at 10%, and $[ ] at 13%. \n" );
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Algebra.Com's Answer #754347 by greenestamps(13200)![]() ![]() You can put this solution on YOUR website! \n" ); document.write( "(1) Use logical reasoning and simple mental arithmetic, or formal algebra, to determine from the given information that $3700 was invested at 13% and $3500 was split between the 6% and 10% investments. \n" ); document.write( "(2) Find the income from the 13% investment: \n" ); document.write( " \n" ); document.write( "$481 of the total income was from the investment at 13%. \n" ); document.write( "(3) Determine the combined income from the 6% and 10% investments: \n" ); document.write( " \n" ); document.write( "The total income from the 6% and 10% investments was $306. \n" ); document.write( "(4) Now here is a completely different method for determining how the $3500 was split between the 6% and 10% investments. \n" ); document.write( "All $3500 at 6% would produce income of $210; all at 10% would produce income of $350. \n" ); document.write( "The ratio in which the $3500 is split between the 6% and 10% investments is exactly determined by where the actual income lies between $210 and $350. \n" ); document.write( "350-210 = 140; 306-210 = 96; 96/140 = 24/35. \n" ); document.write( "$306 is 24/35 of the way from $210 to $350; this means 24/35 of the $3500 was invested at the higher rate. \n" ); document.write( "24/35 of $3500 = $2400 at 10%; the rest, $1100, at 6%. \n" ); document.write( "ANSWERS: $3700 at 13%; $2400 at 10%; $1100 at 6%. \n" ); document.write( " |