SOLUTION: An actor invests some money at 9%, and $32000 more than three times the amount at 11 %. The total annual interest earned from the investment is $34180. How much did he inv
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Question 1134495: An actor invests some money at 9%, and $32000 more than three times the amount at 11 %. The total annual interest earned from the investment is $34180. How much did he invest at each amount? Use the six-step method.
Found 2 solutions by mathsolverplus, stanbon:
Answer by mathsolverplus(88) (Show Source): You can put this solution on YOUR website!
Let the first amount = x,
First interest = x(0.09)
Second interest = (32000+3x)(0.11)
Now, given that the sum of interests = 34180:
x = 73000
He invested $73000 for the first time and 3(73000)+32000 = $251000 for the second time.
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Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
An actor invests some money at 9%, and $32000 more than three times the amount at 11 %. The total annual interest earned from the investment is $34180. How much did he invest at each amount? Use the six-step method.
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Int. + Int = Int
0.09x + 0.11(3x+32000) = 34180
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9x + 33x + 352000 = 3418000
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42x - 3066000
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x = $73000
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Cheers,
Stan H.
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