Declare your variables and write a system of equations to model the following application problem. Then solve the system of equations, using the method of your choice. State your answers in the context of the problem.

Linda invests $13,000 for one year. Part is invested at 4%, another part at 5%, and the rest at 7%. The total income from all 3 investments is $705. The combined income from the 4% and 5% investments is $75 more than the income from the 7% investment. Find the amount invested at each rate.

Question

Declare your variables and write a system of equations to model the following application problem. Then solve the system of equations, using the method of your choice. State your answers in the context of the problem.

Linda invests $13,000 for one year. Part is invested at 4%, another part at 5%, and the rest at 7%. The total income from all 3 investments is $705. The combined income from the 4% and 5% investments is $75 more than the income from the 7% investment. Find the amount invested at each rate.