Solve the Problem. -Roberto Invested Some Money at 2.5%, and Then Invested $5000

question 7

Multiple Choice

Solve the problem.
-Roberto invested some money at 2.5%, and then invested $5000 more than twice this amount at 4%. His total annual income from the two investments was $1565.00. How much was invested at 4%?

• A) $31,000
• B) $15,000
• C) $26,000
• D) $3100

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Definitions:

Reasonable Basis

A justification or foundation for belief or action that is considered fair or sensible under given circumstances.

Claims

Demands for something due or believed to be due, typically used in the context of legal or insurance disputes.

Consent Order

A statement in which a company agrees to stop disputed behavior but does not admit that it broke the law.

Federal Trade Commission

An independent agency of the United States government, established in 1914 to prevent unfair business practices and to protect consumers.