SOLUTION: A doctor invests a portion of money at 5% and $2500 more than twice as much as 9%. The total annual income from the investments is $1475. Find the amount invested at 5%.
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Question 664187: A doctor invests a portion of money at 5% and $2500 more than twice as much as 9%. The total annual income from the investments is $1475. Find the amount invested at 5%. Answer by ReadingBoosters(3246) (Show Source):
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Set variables
x = $ at 5%
y = $ at 9%
...
Given
.05(x)+.09(y)=1475
y = 2x+2500
Substitute the second equation into the first.
..
.05x + .09(2x+2500) = 1475
.05x + .18x + 225 = 1475
Combine like terms
.23x = 1475 - 225
.23x = 1250
x = $5,434.78 invested at 5%
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