SOLUTION: An actor invested some money at 9% simple interest,and $42,000 more than four times the amount at 10%. The total annual interest earned from the investment was $43,890. How much di

Question 1158757: An actor invested some money at 9% simple interest,and $42,000 more than four times the amount at 10%. The total annual interest earned from the investment was $43,890. How much did he invest at each amount?
Answer by ikleyn(52817) (Show Source): You can put this solution on YOUR website!
.


Let x be the amount invested at 9%; then the amount invested at 10% is (x+42000).


The interest from the 9% investment is  0.09x.

The interest of the 10% investment is  0.10*(x+42000).


The total investment equation is  


    0.09x + 0.10*(x+42000) = 43890.


From the equation


    x =  = 208894.74.


ANSWER.  $208894.74 invested at 9%;  208894.74 + 42000 = 250894.74 dollars invested at 10%.


CHECK.   0.09*208894.74 + 0.10*250894.74 = 43890 dollars.  Correct.

Solved.

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