Question 997702: A broker has twice as much money invested at 8% as he has invested a 6.5% if his total income from the two investments is $2700 how much does he have invested at each rate?
Answer by addingup(3677)   (Show Source):
You can put this solution on YOUR website! Let's call the amount invested at 6.5% x.
The amount invested at 8% is 2x
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.065x + .08(2x)= 2,700
.065x + .16x= 2,700
.225x= 2,700 divide both sides by .225
x= 12,000 is what he has invested at 6.5%, and
12,000*2= 24,000 is the amount invested at 8%
Proof:
12,000 x 0.065= 780
24,000 x 0.08= 1,920
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Total............2,700 We have the correct answer
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