SOLUTION: 1st sum of money at 6% 2nd sum of money is twice the first sum + $1000 at 10% and the total annual income is $620.. how much is invested at each rate and how did you get it.. t

Algebra ->  Algebra  -> Finance -> SOLUTION: 1st sum of money at 6% 2nd sum of money is twice the first sum + $1000 at 10% and the total annual income is $620.. how much is invested at each rate and how did you get it.. t      Log On

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Question 160036: 1st sum of money at 6%
2nd sum of money is twice the first sum + $1000 at 10% and the total annual income is $620..
how much is invested at each rate and how did you get it.. this has to be done in the i=prt form
Answer by scott8148(5880) About Me  (Show Source):
You can put this solution on YOUR website!
s=1st sum, so 2s+1000=2nd sum

(6%)(s)+(10%)(2s+1000)=620 __ .06s+.2s+100=620 __ .26s=520 __ s=2000

2s+1000=5000