Question 178616: Hello.
Inheriting money: Paul split an inheritance between two investments, one paying 7% annual interest and the other 10%. He invested twice as much in the 10% investment as he did in the 7% investment. If his combined annual income form the two investments was $4,050, how much did he inherit?
Thanks.
H.C.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Inheriting money: Paul split an inheritance between two investments, one paying 7% annual interest and the other 10%. He invested twice as much in the 10% investment as he did in the 7% investment. If his combined annual income form the two investments was $4,050, how much did he inherit?
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Equation:
0.07x + 0.10(2x) = 4050
Multiply thru by 100 to get:
7x + 20x = 405000
27x 405000
x = 15000 (amt. invested at 7%)
2x = 30000 (amt. invested at 10%)
Total amount invested = x + 2x = 45,000
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Cheers,
Stan H.
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