Problema Solution
Roberto invested some money at 8%, and then invested #3000 more than twice this amount at 11%. His total annual income from the two investment was 4830. how much was invested at 11%?
Answer provided by our tutors
let
x = the money invested at 8%
then he invested $3,000 more than twice this amount at 11%:
3000 + 2x at 11%
his total annual income from the two investment was 4830:
0.08x + 0.11(3000 + 2x) = 4830
by solving we find:
x = $15,000
click here to see the step by step solution of the equation:
3000 + 2*15,000 = $33,000
Roberto invested $33,000 at 11%/