Problema Solution

Roberto invested some money at an APR of 8 percent, and then invested $4000 more than twice this amount at an APR of 11 percent. His total annual income from the two investments was $4940. How much was invested at 11 percent?

Answer provided by our tutors

Let x be the amount invetse at 8% APR.

0.08x+(4000+2x)0.11=4940.

0.08x+440+0.22x=4940.

0.3x=4500

x=4500/0.3

=$15000.

Amount invested at 11% APR=15000+4000.

=$19000.