SOLUTION: Investments: Aaron invested equal amounts of money at 5%, 7%, 9%, and 11% annual interest. If the four investments yielded a total of $1440 annual interest, find the total amoun

Question 1144256: Investments: Aaron invested equal amounts of money at 5%, 7%, 9%, and 11% annual interest. If the four investments yielded a total of $1440 annual interest, find the total amount invested.
Found 3 solutions by ankor@dixie-net.com, ikleyn, greenestamps:
Answer by ankor@dixie-net.com(22740)   (Show Source): You can put this solution on YOUR website!
Investments: Aaron invested equal amounts of money at 5%, 7%, 9%, and 11% annual interest.
If the four investments yielded a total of $1440 annual interest, find the total amount invested.
Let a = total amt invested
.05a +.07a + .09a + .11a = 1440
.32a = 1440
a = 1440/.32
a = $4500 invested
then
.05(4500) = 225 invested at 5%
.07{4500) = 315 " " 7%
.09(4500) = 405 " " 9%
.11(4500) = 495 " " 11%
------------------
total inv: 1400
Answer by ikleyn(52775)   (Show Source): You can put this solution on YOUR website!
.

Let "x" be the COMMON EQUAL value of each of the four investments. Then the condition says that 0.05x + 0.07x + 0.09x + 0.11x = 1440 dollars (total annual interest). Simplify and solve this equation 0.32x = 1440 x = = 4500 dollars. The total amount invested is 4x = 4*4500 = 18000 dollars.

Ignore the solution and the answer of the other tutor, since they are   W R O N G.

Answer by greenestamps(13198)   (Show Source): You can put this solution on YOUR website!

Since the amounts invested at each rate are the same, the average percent interest is

Then

ANSWER: The total amount invested was $18000.
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