SOLUTION: An actor invested some money at 9​% simple​ interest, and ​$34000 more than twice the amount at 10 %. The total annual interest earned from the investment was

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Question 1110962:
An actor invested some money at 9​% simple​ interest, and ​$34000 more than twice the amount at 10 %. The total annual interest earned from the investment was ​$18770. How much did he invest at each​ amount?
Answer by ikleyn(52781)   (Show Source): You can put this solution on YOUR website!
.
0.09*x + 0.1*(2x+34000) = 18770


0.09x + 0.2x + 3400 = 18770


0.29x = 18770 - 3400 = 15370  ====>  x =  = 53000 dollars.


Answer.  One investment was $53000.   The other was $34000 more.

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To see many other similar solved problems on investment,  look into the lesson
    - Using systems of equations to solve problems on investment
in this site.

You will find there different approaches  (using one equation or a system of two equations in two unknowns),  as well as
different methods of solution to the equations  (Substitution,  Elimination).

Also,  you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic  "Systems of two linear equations in two unknowns".


Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
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to your archive and use it when it is needed.


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