Let the amount that the man placed in the first investment be \(x\). Then, the amount that he placed in the second investment has to be \(\$3000 - x\). Using those as the investment amounts, the total profit is given by adding the two separate profits as shown:
\(.03x + .04(\$3000 - x) = \$107\)
We can now solve for x:
\(.03x + .04(\$3000 - x) = \$107\)
\(.03x + (\$120 - .04x) = \$107\)
\(\$120 - .01x = \$107\)
\(.01x = \$13\)
\(x = \$1300\)
Thus,
First investment: \(x = \bf \$1300\)
Second investment: \(\$3000 - x = \$3000 - \$1300 = \bf \$1700\)
