Question 1058731: Linda invests $25,000 for one year. Part is invested at 5%, another part at 6%, and the rest at 8%. The total income from all 3 investments is $1600. The combined income from the 5% and 6% investments is the same as the income from the 8% investment. Find the amount invested at each rate.
Select one:
a. $5000 at 5%; $10,000 at 6%; $10,000 at 8%
b. $10,000 at 5%; $10,000 at 6%; $5000 at 8%
c. $8000 at 5%; $10,000 at 6%; $7000 at 8%
d. $10,000 at 5%; $5000 at 6%; $10,000 at 8%
Answer by addingup(3677)   (Show Source):
You can put this solution on YOUR website! "The combined income from the 5% and 6% investments is the same as the income from the 8%" And the problem says the total income was 1600, so 1600/2 = 800. Now we know that 0.08x = 800 and x = 800/0.08 = 10,000.
So, 10,000 was invested at 8%. That leaves us 15,000 for 5% and 6%. Let's solve for these two:
0.05x+0.06(15,000-x) = 800
0.05x+900-0.06x = 800 You can finish it off from here, divide -100/-0.01 to get the investment at 5% and then subtract that amount from 15,000 to get the amount invested at 6%. Email me if you have questions.
John
|
|
|
