SOLUTION: an actor invests some money at 7%, and $35000 more than three times the amount at 19%. the total annual interest earned from the investment is $34090. how much did he invest at eac
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Question 1123784: an actor invests some money at 7%, and $35000 more than three times the amount at 19%. the total annual interest earned from the investment is $34090. how much did he invest at each amount? Answer by ikleyn(52790) (Show Source):
Let x = the amount invested at 7%.
Then the amount invested at 19% is (3x+35000) dollars.
Your equation is
interest + interest = total interest, or
0.07x + 0.19*(3x + 35000) = 34090.
Simplify and solve for x.
(0.07 + 0.19*3)x = 34090 - 0.19*35000
x = = 42875.
Answer. $42875 was invested at 7% and 3*42875+35000 = 163625 dollars was invested at 19%.
Check. 0.07*42875 + 0.19*163625 = 34090 dollars. ! Correct !
Solved.
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It is a standard and typical problem on investments.
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).