SOLUTION: Roberto invested some money at 8%. and then invested $5000 more than twice this amount at 12%. His total annual income from the two investments was $4440. How much was invested at
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Roberto invested some money at 8%. and then invested $5000 more than twice this amount at 12%. His total annual income from the two investments was $4440. How much was invested at
Log On
Question 356622: Roberto invested some money at 8%. and then invested $5000 more than twice this amount at 12%. His total annual income from the two investments was $4440. How much was invested at 12%? Answer by robertb(5830) (Show Source):
You can put this solution on YOUR website! let x = amount invested at 8%. Then the amount invested at 12% is 2x + 5000, from the given. Then
0.08x + 0.12(2x + 5000) = 4440.
0.08x+0.24x + 600 = 4440.
0.32x = 3840
x = 12,000. Thus the amount invested at 12 is $29,000.
