Question 1154305: An actor invested some money at 8% simple interest, and $37,000 more than twice the amount at 10%. The total annual interest earned from the investment was $18,260. How much did he invest at each amount?
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! An actor invested some money at 8% simple interest, and $37,000 more than twice the amount at 10%. The total annual interest earned from the investment was $18,260. How much did he invest at each amount?
An actor invested some money at 8% simple interest ----X
and $37,000 more than 2x,------ 10%.
The total annual interest earned from the investment was $18,260.
8%x+10%(37000+2x)= 18260
multiply by 100
8x+10(37000+2x) =1826000
8x+370000+20x= 1826000
28x= 1826000-370000
28x= 1456000
x= 52000
2x+37000 = 141000
$52,000 @ 8%
$141,000 @10%
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