I need some help with this problem. Solve the problem. Roberto invested some money at 7%, and theninvested $2000 more than twice this amount at 11%. His total annualincome from the two investments was $3990. How much was invested at11%? Thanks for the Help! I need some help with this problem. Solve the problem. Roberto invested some money at 7%, and theninvested $2000 more than twice this amount at 11%. His total annualincome from the two investments was $3990. How much was invested at11%? Thanks for the Help!
Explanation / Answer
let x represent the amount invested at7% so 2x + 2000 is the amount invested at 11% I assume that tis is simple interest for one year so 0.07x + (2x+2000)(0.11) =3990 multiply through by 100 so 7x + (2x+2000)(11) =399000 expand ans simplify 7x + 22x + 22000 = 399000 29x = 377000 so x = 13000 thus 28000 was invested at 11% hope this helps