SOLUTION: An actor invests some money at 8%, and $38000 more than three times the amount at 11%. The total annual interest earned form the investment is $34101. How much did he invest at eac

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Question 867320: An actor invests some money at 8%, and $38000 more than three times the amount at 11%. The total annual interest earned form the investment is $34101. How much did he invest at each amount?
Found 2 solutions by lwsshak3, mananth:
Answer by lwsshak3(11628) About Me  (Show Source):
You can put this solution on YOUR website!
An actor invests some money at 8%, and $38000 more than three times the amount at 11%. The total annual interest earned form the investment is $34101. How much did he invest at each amount?
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let x=amt of money invested at 11%
3x+38000=amt of money invested at 8%
.11x+.08(3x+38000)=34101
.11x+.24x+3040=34101
0.35x=31061
x=≈88746
3x+38000≈304237
amt of money invested at 11%≈$88,746
amt of money invested at 8%≈$304,238

Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
x at 8%
y at 11%
y=3x+38000
y-3x=38000....................(1)
Interest
8%x+11%y=34101
multiply by 100
8x+11y=3410100................(2)
solve (1) & (2)
-3.00 x + 1.00 y = 38000.00 .............1
Total value
8.00 x + 11.00 y = 3410100.00 .............2
Eliminate y
multiply (1)by -11.00
Multiply (2) by 1.00
33.00 x -11.00 y = -418000.00
8.00 x + 11.00 y = 3410100.00
Add the two equations
41.00 x = 2992100.00
/ 41.00
x = 72978.05
plug value of x in (1)
-3.00 x + 1.00 y = 38000.00
-218934.15 + y = 38000.00
y = 38000.00 + 218934.15
y = 256934.15
y = 256934.15
x= 72978.05 amount at 8%
y= 256934.15 amount at 11%