SOLUTION: An actor invested some money at 9% simple interest,and $42,000 more than four times the amount at 10%. The total annual interest earned from the investment was $43,890. How much di
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Question 1158757: An actor invested some money at 9% simple interest,and $42,000 more than four times the amount at 10%. The total annual interest earned from the investment was $43,890. How much did he invest at each amount? Answer by ikleyn(52814) (Show Source):
Let x be the amount invested at 9%; then the amount invested at 10% is (x+42000).
The interest from the 9% investment is 0.09x.
The interest of the 10% investment is 0.10*(x+42000).
The total investment equation is
0.09x + 0.10*(x+42000) = 43890.
From the equation
x = = 208894.74.
ANSWER. $208894.74 invested at 9%; 208894.74 + 42000 = 250894.74 dollars invested at 10%.
CHECK. 0.09*208894.74 + 0.10*250894.74 = 43890 dollars. Correct.
