Step-by-step explanation:
Given that a man has $195,000 invested in three properties. One earns 12%, one 10% and one 8%. His annual income from the properties is $18,700 and the amount invested at 8% is twice that invested at 12%.
12%10%8%total
Principalxyz195000
Interest0.12x0.1y0.08z18700
z=2x
Thus we get three equations as
x+y+z = 195000: 0.12x+0.1y+0.08z = 18700 and z =2x
substitute z value in first 2 equations to get
3x+y = 195000: 0.28x+0.1y = 18700 or 28x+10y =1870000
30x+10y =1950000
2x = 80000 or x = 40000
3(40000)+y = 195000: y = 75000
z = 80000
a) How much is invested in each property?
12% property $ ... 40000
10% property $ ... 75000
8% property $ ... 80000
b) Annual income =