SOLUTION: a man invest twice as much as 8% as he invests at 5%.his total annual income from the two investments is 840.how much is invested at each rate?

Question 507180: a man invest twice as much as 8% as he invests at 5%.his total annual income from the two investments is 840.how much is invested at each rate?

Answer by nerdybill(7384) (Show Source): You can put this solution on YOUR website!
a man invest twice as much as 8% as he invests at 5%.his total annual income from the two investments is 840.how much is invested at each rate?
.
Let x = amount ($) invested at 5%
then
2x = amount ($) invested at 8%
.
.05x + .08(2x) = 840
.05x + .16x = 840
.21x = 840
x = 840/.21
x = $4000 (amount invested at 5%)
.
amount invested at 8%:
2x = 2(4000) = $8000
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