Question 388601: Sara has $60,000 to invest. She invest part at 4%, one half this amount at 3.5%, and the balance at 5%. Her total annual income from interest is $2650. Find the amount invested at each rate.
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! Sara has $60,000 to invest. She invest part at 4%, one half this amount at 3.5%, and the balance at 5%. Her total annual income from interest is $2650. Find the amount invested at each rate.
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Sara has $60,000 to invest.
at 4%, $ x
at 3.5%, $ x/2
at 5%. (60000-(x+x/2))= (60000-1.5x)
...
4x+3.5*x/2 + 5*(60000-1.5x)=2650*100
multiply by2
8x+3.5x+10(60000-1.5x)=2650*100*2
8x+3.5x+600000-15x=2650*100*2
-3.5x=-600000+530000
-3.5x=-70000
/-3.5
x=-70000/-3.5
...
x= $20,000 @ 4%
x/2 = $10,000 @3.5%
$30,000 @ 5%
...
m.ananth@hotmail.ca
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