Problema Solution
An actor at 5% invests and three times that amount at 6% plus 38000 with a return of 15390 what amount at both percentages is invested
Answer provided by our tutors
let 'x' represent the amount invested at 5%, then '3x' represents the amount invested at 6%
interest = principal * rate * time
we taken time to be equal to 1
15390 = 0.05x + 0.06(3x)
solving for 'x' we have x=66913.04
3*(66913.04) = 200739.12
the actor invested approximately $66,913 at 5% and approximately $200,739 at 6%