Problema Solution
an actor invests some money at 7% and 36000 more than four times the amount at 11%. The total annual interest earned from the investment is $70770. How much did he invest at each perecnet
Answer provided by our tutors
let
x = the money invested at 7%
4x + 36000 = the money invested at 11%
the annual interest from the 7% investment + annual interest from 11% investment = the total annual interest earned from the investment is $70770
0.07x + 0.11*(4x + 36000) = 70770
by solving we find
x = $131,000
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4*131000 + 36000 = $56,000
$131,000 was invested at 7%.
$56,000 was invested at 11%.