Problema Solution
Part of $8,000 is invested at 12%, another part at 13%, and the remainder at 14% yearly interest. The total yearly income from the three investments is $1,065. The sum of the amounts invested at 12% and 13% equals the amount invested at 14%. How much is invested at each rate?
Answer provided by our tutors
let
x = the part invested at 12%
y = the part invested at 13%
z = the part invested at 14%
the total money invested is $8,000
x + y + z = 8000
the total yearly income from the three investments is $1,065
0.12x + 0.13y + 0.14z = 1065
the sum of the amounts invested at 12% and 13% equals the amount invested at 14%
x + y = z
by solving the system of equations
x + y + z = 8000
0.12x + 0.13y + 0.14z = 1065
x + y = z
we find
x = $1,500
y = $2,500
z = $4,000
click here to see the step by step solution of the system of equations
$1,500 are invested at 12%
$2,500 are invested at 13%
$4,000 are invested at 14%