Problema Solution

an actor invests some money at 7% and 29000 more than three time the amount at 11% the total annual interest earned from the investment is 23990 how much did he invest at each amount

Answer provided by our tutors

let


x = the money invested at 7%

y = the money invested at 11%


an actor invests some money at 9% and 29,000 more than three times the amount at 11% means:


y = 29,000 + 3x


the total annual interest earned form the investment is 23,990:


0.07x + 0.11y = 23990


plug y = 39,000 + 3x into the last equation


0.07x + 0.11(29,000 + 3x) = 23,990


by solving we find


x = $52,000


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y = 29,000 + 3*52,000


y = $185,000


lets check, indeed


0.07*52.000 + 0.11*185,000 = 23,990


the actor invested $52,000 at 7% and $185,000 at 11%.