Problema Solution
An actor invests some money at 9% and $45000 more than four times the amount of 10%. The total annual interest earned for the investment is $30470.How much did he invest at each amount?
Answer provided by our tutors
let he invest $x at 9%
as given
9% of x + 10% of (4x+45000) = 30470
9x + 40x + 450000 = 3047000
49x = 2597000
x = 53,000
he invested $53000 at 9% & 257000 at 10%