SOLUTION:
An actor invested some money at 9​% simple​ interest, and ​$34000 more than twice the amount at 10 %. The total annual interest earned from the investment was
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An actor invested some money at 9​% simple​ interest, and ​$34000 more than twice the amount at 10 %. The total annual interest earned from the investment was
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Question 1110962:
An actor invested some money at 9% simple interest, and $34000 more than twice the amount at 10 %. The total annual interest earned from the investment was $18770. How much did he invest at each amount? Answer by ikleyn(52776) (Show Source):
0.09*x + 0.1*(2x+34000) = 18770
0.09x + 0.2x + 3400 = 18770
0.29x = 18770 - 3400 = 15370 ====> x = = 53000 dollars.
Answer. One investment was $53000. The other was $34000 more.
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).
