Problema Solution
an actor invests some money at 7% and 34000 more than three times the amount at 10%. The total annual interest earned from the investment is $34000. How much did he invest at each perecnet
Answer provided by our tutors
et
x = the money invested at 7%
3x + 34000 = the money invested at 10%
the annual interest from the 7% investment + annual interest from 10% investment = the total annual interest earned from the investment is $34000
0.07x + 0.10*(3x + 34000) = 34000
by solving we find
x = $82,702.71
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3*82702.71+ 34000 = $259,300
$82,702.71 are invested at 7%.
$282,108.13 are invested at 10%.