Part of $3000is invested at 12%, another at 13%, and the remainder at 14%. The total yearly income from the three investments is $400. The sun of the amounts invested at 12% and 13% equals the amount invested at 14%. Determine how much is invested at each rate.

Question

Mathematics

Nicholas Steele

29 November, 09:21

Part of $3000is invested at 12%, another at 13%, and the remainder at 14%. The total yearly income from the three investments is $400. The sun of the amounts invested at 12% and 13% equals the amount invested at 14%. Determine how much is invested at each rate.

+3

Answers (1)

Know the Answer?

Macie Hanson · Answer 1

Answer: 500 investigated @ 12%, 1,000 @ 13%, 1,500 @ 14%.

Process:

Suppose $x investigated at 12%, $y @ 13%, $ (x+y) @ 14%.

According to the question we can set up the equations:

x+y+x+y=3000

0.12x+0.13y+0.14 (x+y) = 400

Solve it: x=500, y=1,000.

So x+y=1,500.