SOLUTION: Mrs. Stevens invested a certain amount of money at 7% and twice that amount at 10%. If the combined annual income from both investments us $810, how much was invested at each rate.
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Question 1018952: Mrs. Stevens invested a certain amount of money at 7% and twice that amount at 10%. If the combined annual income from both investments us $810, how much was invested at each rate.
Answer by fractalier(6550) (Show Source): You can put this solution on YOUR website!
Call the amount of money invested at 7%, x.
Thus he invested 2x at 10%.
The setup looks like this
.07x + (.10)(2x) = 810
.07x + .20x = 810
.27x = 810
x = 810/.27 = $3000 at 7% and then
2x = $6000 at 10%
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