SOLUTION: an actor invests some money at 7%, and $35000 more than three times the amount at 19%. the total annual interest earned from the investment is $34090. how much did he invest at eac

Question 1123784: an actor invests some money at 7%, and $35000 more than three times the amount at 19%. the total annual interest earned from the investment is $34090. how much did he invest at each amount?
Answer by ikleyn(52790) (Show Source): You can put this solution on YOUR website!
.

Let x = the amount invested at 7%.


Then the amount invested at 19% is (3x+35000) dollars.


Your equation is 


    interest + interest = total interest,   or


    0.07x    + 0.19*(3x + 35000) = 34090.


Simplify and solve for x.


    (0.07 + 0.19*3)x = 34090 - 0.19*35000


    x =  = 42875.


Answer.  $42875 was invested at 7%  and  3*42875+35000 = 163625 dollars was invested at 19%.


Check.  0.07*42875 + 0.19*163625 = 34090 dollars.   ! Correct !

Solved.

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It is a standard and typical problem on investments.

If you need more details, or if you want to see other similar problems solved by different methods, 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
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.

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