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


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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%.