A man has $285,000 invested in three properties. One earns 12%, one 10% and one 8%. His annual income from the properties is $27,100 and the amount invested at 8% is twice that invested at 12%. (a) How much is invested in each property? 12% property $ 10% property $ 8% property $ (b) What is the annual income from each property? 12% property $ 10% property $ 8% property $
A man has $285,000 invested in three properties. One earns 12%, one 10% and one 8%. His annual income from the properties is $27,100 and the amount invested at 8% is twice that invested at 12%. (a) How much is invested in each property? 12% property $ 10% property $ 8% property $ (b) What is the annual income from each property? 12% property $ 10% property $ 8% property $
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter5: Systems Of Equations And Inequalities
Section: Chapter Questions
Problem 26E
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Question
A man has $285,000 invested in three properties. One earns 12%, one 10% and one 8%. His annual income from the properties is $27,100 and the amount invested at 8% is twice that invested at 12%.
(a) How much is invested in each property?
(b) What is the annual income from each property?
| 12% | property | $ | ||||
| 10% | property | $ | ||||
| 8% | property | $ |
(b) What is the annual income from each property?
| 12% | property | $ | ||||
| 10% | property | $ | ||||
| 8% | property | $ |
Expert Solution
Step 1
The total investment by a man is given by $285,000.
Consider the amount invested at eight percent is given by "x".
Consider the amount invested at twelve percent is given by "y".
Consider the amount invested at ten percent is given by "z".
As per the given condition
The amount invested at 8% is twice that invested at 12%.
That is x=2y
We know that
......(1)
Substitute the value of x=2y in above equation, we get
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