SOLUTION: An actor invests some money at 8%, and $41000 more than four times the amount at 9%. The total annual interest earned from the investment is $60010. How much did he invest at each
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Question 1109456: An actor invests some money at 8%, and $41000 more than four times the amount at 9%. The total annual interest earned from the investment is $60010. How much did he invest at each amount? Use the Six Step Method.
He invested $_ at 8% and $_ at 9%. Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Use simple interest formula
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Investment @ 8%
(1)
Tnvestment @ 9%
(2)
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Plug (1) into (2)
(2)
(2)
(2)
and
(1)
(1)
and
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He invested $5,252.27 @ 8% and
$62,009.08 @ 9%
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check answer:
(2)
(2)
(2)
(2)
(2)
and
(1)
(1)
(1)
OK
