+0  
 
0
48
1
avatar+101 

An actor invested some money at 9 % simple  interest, and $41,000

more than three times the amount of 11%. The total annual interest earned from the investment was $47,350.

How much did he invest at each amount?

 

He invested $ __ at 9 % and $ __ at 11 %.

ladiikeiii  Oct 18, 2017
Sort: 

1+0 Answers

 #1
avatar
+1

An actor invested some money at 9 % simple  interest, and $41,000

more than three times the amount of 11%. The total annual interest earned from the investment was $47,350.

How much did he invest at each amount?

 

Let the amount that he invested @ 11% =A

Then the amount he invested @ 9% =3A + $41,000

 

11%A + 9%(3A + $41,000) =$47,350

0.11A + 0.27A + $3,690 = $47,350

0.38A +$3,690 = $47,350         Subtract $3,690 from both sides

0.38A = $47,350 - $3,690

0.38A = $43,660                            Divide both sides by 0.38

A = $43,660 / 0.38

A = $114,894.74 money invested @ 11%

$114,894.74 x 3  +  $41,000 =$385,684.22 money Invsted @ 9%

I was expecting it to come as even dollars, but it didn't unless I fouled something!!.

Guest Oct 19, 2017

7 Online Users

We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.  See details