SOLUTION: I need help with this word problem please. "An actor invests some money at 5% and $27000 more than four times the amount at 11%. The total annual interest earned from the investmen
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-> SOLUTION: I need help with this word problem please. "An actor invests some money at 5% and $27000 more than four times the amount at 11%. The total annual interest earned from the investmen
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Question 293598: I need help with this word problem please. "An actor invests some money at 5% and $27000 more than four times the amount at 11%. The total annual interest earned from the investment is $36780. How much did he invest at each amount?" Thank you for anything you can do. Answer by nerdybill(7384) (Show Source):
You can put this solution on YOUR website! An actor invests some money at 5% and $27000 more than four times the amount at 11%. The total annual interest earned from the investment is $36780. How much did he invest at each amount?
.
Let x = amount invested at 5%
then
4x+27000 = amount invested at 11%
.
.05x + .11(4x+27000) = 36780
.05x + .44x + 2970 = 36780
.49x + 2970 = 36780
.49x = 33810
x = $69,000 (amount invested at 5%)
.
amount invested at 11%:
4x+27000 = 4(69000)+27000 = $303,000
