SOLUTION: An actor invested some money at 5% simple interest, and $45,000 more than twice the amount at 6% . The total annual interest earned from the investment was $14090.how much did inve

Question 1164398: An actor invested some money at 5% simple interest, and $45,000 more than twice the amount at 6% . The total annual interest earned from the investment was $14090.how much did invest at each amount?
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
.


Let x be the 5% investment.


Then the 6% investment is (2x+45000) dollars.


The total interest equation is then


    0.05x + 0.06*(2x+45000) = 14090  dollars.


From the equation


    x =  = 67000.


ANSWER.  $67000  invested at 5%  and  2*67000 + 45000 = 179000 dollars invested at 6%.


CHECK.  0.05*67000 + 0.06*179000 = 14090 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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