18. Bruce Blossum invested a sum of money at 10 % annual sim- ple interest and invested twice that amount at 12 % annual simple interest. If his total yearly income from both invest- ments was $2890, how much was invested at each rate?

College Algebra
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ISBN:9781938168383
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Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
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18. Bruce Blossum invested a sum of money at 10 % annual sim-
ple interest and invested twice that amount at 12 % annual
simple interest. If his total yearly income from both invest-
ments was $2890, how much was invested at each rate?
Transcribed Image Text:18. Bruce Blossum invested a sum of money at 10 % annual sim- ple interest and invested twice that amount at 12 % annual simple interest. If his total yearly income from both invest- ments was $2890, how much was invested at each rate?
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