SOLUTION: Mr. Turner invested a sum of money at 7% and twice that sum at 3%. His yearly return was $390. How much did Mr. Turner invest at each rate?

SOLUTION: Mr. Turner invested a sum of money at 7% and twice that sum at 3%. His yearly return was $390. How much did Mr. Turner invest at each rate?

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Question 70550: Mr. Turner invested a sum of money at 7% and twice that sum at 3%. His yearly return was $390. How much did Mr. Turner invest at each rate?
Answer by checkley75(3666) (Show Source): You can put this solution on YOUR website!
.07x+.03*2x=390
.07x+.06x=390
.13x=390
x=390/.13
x=3000 invested @ 7% &
2*3000=6000 invested @ 3%
proof
.07*3000+.03*6000=390
210+180=390
390=390
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