Problema Solution
an actor invests some money at 9% and 36000 more than three times the amount at 11% the total annual interest earned form the investment is 37560 how much did he invest at each amount. use the six step method
Answer provided by our tutors
let
x = the money invested at 9%
y = the money invested at 11%
an actor invests some money at 9% and 36000 more than three times the amount at 11% means:
y = 36,000 + 3x
the total annual interest earned form the investment is 37,560:
0.09x + 0.11y = 37,560
plug y = 36,000 + 3x into the last equation
0.09x + 0.11(36,000 + 3x) = 37,560
by solving we find
x = $80,000
click here to see the step by step solution of the system equation
y = 36,000 + 3*80,000
y = $60,000
lets check, indeed
0.09*80.000 + 0.11*60,000 = 37,560
the actor invested $80,000 at 9% and $60,000 at 11%.