Question 723999: Please help me solve this question.
An actor invests some money at 8%, and $48000 more than twice the amount at 9%.The total annual interest earned from the investment is $25640. How much did he invest at each amount?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! An actor invests some money at 8%, and $48000 more than twice the amount at 9%.
Quantity problem: x + 2x+48000
The total annual interest earned from the investment is $25640. How much did he invest at each amount?
----
Interest Equation: 8x + 9(2x+48000) = 2564000
8x + 18x = 2564000-9*48000
-----
26x = 2132000
----
x = $82,000 (amt. invested at 8%
2x+48000 = $212,000 (amt invested at 9%
========================
Cheers,
Stan H.
========================
|
|
|
