SOLUTION: Mr. Turner invested a sum of money at 7% and twice that sum at 3%. His yearly return was $390. How much did Mr. Turner invest at each rate?
Algebra ->
Percentage-and-ratio-word-problems
-> SOLUTION: Mr. Turner invested a sum of money at 7% and twice that sum at 3%. His yearly return was $390. How much did Mr. Turner invest at each rate?
Log On
Question 70550: Mr. Turner invested a sum of money at 7% and twice that sum at 3%. His yearly return was $390. How much did Mr. Turner invest at each rate? Answer by checkley75(3666) (Show Source):
You can put this solution on YOUR website! .07x+.03*2x=390
.07x+.06x=390
.13x=390
x=390/.13
x=3000 invested @ 7% &
2*3000=6000 invested @ 3%
proof
.07*3000+.03*6000=390
210+180=390
390=390
(