Solve the problem.
-Roberto invested some money at 2.5%, and then invested $5000 more than twice this amount at 4%. His total annual income from the two investments was $1565.00. How much was invested at 4%?
A) $31,000
B) $15,000
C) $26,000
D) $3100

Question

Quizplus · Accepted Answer

Let x be the amount invested at 2.5%. Then, the amount invested at 4% is 2x + $5000. The total income from both investments is given by the equation: 0.025x + 0.04(2x + 5000) = 1565. Solving this equation gives x = $13,000, so the amount invested at 4% is 2(13,000) + 5000 = $31,000.

Solve the Problem. -Roberto Invested Some Money at 2.5%, and Then Invested $5000