Question 300035
Roberto invested some money at 7%, and then invested $2000 more than twice this amount at 9%. His total annual income from the two investments was $2930. How much was invested at 9% ?
Let x = amount invested at 7%
then
2x+2000 = amount invested at 9%
.
x(0.07) + (2x+2000)(0.09) = 2930
.07x + 0.18x+180 = 2930
0.25x+180 = 2930
0.25x = 2750
x = $11000 (amount invested at 7%)
.
Amount invested at 9% then:
2x+2000 = 2(11000)+2000 = 22000+2000 = $24,000 (amount invested at 9%)