Problema Solution
An actor invests some money at 6%, and $25000 more than four times the amount at 9%. The total annual interest earned from the investment is $30390. How much did he invest at easy amount? Use the six-step method.
Answer provided by our tutors
Let
x = amount invested at 6%
4x+25000 = amount invested at 9%
.06x + .09(4x+25000) = 30390
.06x + .36x + 22500 = 30390
.42x + 22500 = 30390
.42x = 7890
x = $67,000 (amount invested at 6%)
amount invested at 9%:
4x+25000 = 4(67000)+25000 = $293,000
Check:
.06*67000 + .09*293000 = 30390
he invested $67,000 at 6% and $293,00 at 9%.