Problema Solution
Roberto invested some money at 4% and then invested $2000 more than twice this amount at 3%. His total annual income from the two investments was $1260. How much was invested at 3%?
Answer provided by our tutors
let
x = money invested at 4%
2000 + 2x = money invested at 3%
His total annual income from the two investments was $1260
0.04x + 0.03(2000 + 2x) = 1260
by solving we find
x = $12,000
click here to see the step by step solution of the equation
2000 + 2*12,000 = $26,000
$26,000 were invested at 3%.