SOLUTION: Lynn invested some money at 8%, and then invested $3000 more than twice this amount at 9%. His total annual income from the two investments was $3390. How much was invested at 9%?

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Question 190307: Lynn invested some money at 8%, and then invested $3000 more than twice this amount at 9%. His total annual income from the two investments was $3390. How much was invested at 9%?
Answer by jojo14344(1513) About Me  (Show Source):
You can put this solution on YOUR website!


Let x -----> amount inv. at 8%
Also, twice this amount = 2x plus $3,000 = 2x + $3,000 -----> amount inv. at 9%


Then, Income on 8% + Income on 9% = $3,390

0.08x%2B0.09%282x%2B3000%29=3390
0.08x%2B0.18x%2B270=3390
0.26x=3390-270=3120
cross%280.26%29x%2Fcross%280.26%29=cross%283120%2912000%2Fcross%280.26%29
x = $12,000 amount inv. at 8%

Therefore,
2%2Ahighlight%2812000%29%2B3000=24000%2B3000= $27,000, amount inv. at 9% (Answer)


Check,
0.08%2812000%29%2B0.09%2827000%29=3390
960%2B2430=3390
3390=3390

Thank you,
Jojo