Math Problem Statement
Roberto invested some money at 5%, and then invested $2000 more than twice this amount at 5%. His total annual income from the two investments was $2200. How much was invested at 5%?
Solution
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Interest
Algebra
Formulas
Simple interest formula: I = PRT
Theorems
-
Suitable Grade Level
Grades 10-12
Related Recommendation
Solving Investment Problems with Linear Equations: Roberto's 5% Interest Income Calculation
How to Allocate $70,000 Between Bonds and CDs to Earn $5,000 in Interest
Solving Investment Problems with Simple Interest: Larry's Investments
Solving Investment Problem with System of Equations
Calculate Investment Distribution for Betsy's Income Requirement