Problema Solution
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 total income from the 5% and 6% investments is equal to the income from the 8% investment. Find the amount invested at each rate.
Answer provided by our tutors
5% invest = x
6% invest = y
8% invest = z
x + y + z = 25000 (1)
0.05x + 0.06y + 0.08z = 1600 (2)
0.05x + 0.06y = 0.08z (3)
-> from (2), (3) => 2*0.08z = 1600
=> 0.08z = 800 => z =10000
replace z = 10,000 into above equation
x + y = 15000 => x =15000 - y (1*)
0.05x + 0.06y = 800 (2*)
=> 0.05(15000-y) + 0.06y = 800
750 + 0.01y = 800
50 = 0.01y
y = 5000
x = 15000 - 5000 = 10000
=>
5% = $10,000 ; 6% = $5,000 ; 8% = $10,000