Problema Solution
Roberto invested some money at 2.75%, and then invested $4000 more than twice this amount at 3%. His total annual income from the two investments was $1257.50. How much was invested at 3%?
Answer provided by our tutors
let
x = the money invested at 2.75%
x + 4000 = the money invested at 3%
total annual income from the two investments was $1257.50:
0.0275x + 0.03*(x + 4000) = 1257.50
by solving we find:
x = $19,782.61
click here to see the step by step solution of the equation:
x + 4,000 = $19,782.61 + 4,000 = $23,782.61
$23,782.61 were invested at 3%.