Problem

A person invested $6100 for 1 year, part at 5%, part at 11%, and the remainder at 13%. The total annual income from these investments was $665. The amount of money invested at 13% was $500 more than the amounts invested at 5% and 11% combined. Find the amount invested at each rate.

The person invested $ at 5%,$ at 11%, and $ at 13%.

Answer

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Answer

So, the final answer is: The person invested $1200 at 5%, $1600 at 11%, and $3300 at 13%.

Steps

Step 1 :Let's denote the amount invested at 5% as x, the amount invested at 11% as y, and the amount invested at 13% as z.

Step 2 :From the problem, we know that the total amount invested is $6100, so we have the equation x+y+z=6100.

Step 3 :We also know that the total annual income from these investments was $665, which gives us the equation 0.05x+0.11y+0.13z=665.

Step 4 :Finally, we know that the amount of money invested at 13% was $500 more than the amounts invested at 5% and 11% combined, so we have the equation z=x+y+500.

Step 5 :Solving this system of equations, we find that x=1200, y=1600, and z=3300.

Step 6 :So, the final answer is: The person invested $1200 at 5%, $1600 at 11%, and $3300 at 13%.

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