Solve the problem.
-Roberto invested some money at $7 \%$, and then invested $\$ 4000$ more than twice this amount at $12 \%$. His total annual income from the two investments was $\$ 3890$. How much was invested at $12 \%$ ?

Question

Quizplus · Accepted Answer

Let the amount invested at $7\%$ be $x$. Then, the amount invested at $12\%$ is $2x + 4000$. The total income is given by $0.07x + 0.12(2x + 4000) = 3890$. Solving this equation gives $x = 10000$, so the amount invested at $12\%$ is $2(10000) + 4000 = 24000$.

Solve the Problem 7%7 \%7% , and Then Invested $4000\$ 4000$4000 More Than Twice This Amount At

Solve the Problem $7 \%$ , and Then Invested $\$ 4000$ More Than Twice This Amount At