SOLUTION: Roberto invested some money at 7%, and then invested $2000 more than twice this amount at 11%. His total annual income from the two investments was $3990. How much was invested at
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Question 112427This question is from textbook Introductory Algebra
: Roberto invested some money at 7%, and then invested $2000 more than twice this amount at 11%. His total annual income from the two investments was $3990. How much was invested at 11%?
This question is from textbook Introductory Algebra
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
.07x+.11(2x+2000)=3990
.07x+.22x+220=3990
.29x=3990-220
.29x=3770
x=3770/.29
x=$13,000 amount invested @ 7%
2*13,000+2000=26,000+2,000=$28,000 amount invested @ 11%.
proof
.07*13,000+.11*28,000=3990
910+3080=3990
3990=3990
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