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6 October, 12:22

An actor invests some money at 7%, and $48000 and more than twotimes the amount of 9%. The total annual interest earned from the investment is $17820. How much did he invest at each amount?

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  1. 6 October, 12:43
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    At 7% $54,000

    At 9% $156,000

    Step-by-step explanation:

    Let x be the amount invested at 7%, Then 2x + 48000 will be the amount invested at 9%

    We know that:

    7% = 0.07 & 9% = 0.09

    So we can write the interest equation as follows:

    0.07x + 0.09 (2x + 48000) = 17820

    0.07x + 0.18x + 4320 = 17820

    0.25x + 4320 = 17820

    Subtracting 4320 from both sides of the equation we get:

    0.25x = 17820 - 4320

    0.25x = 13500

    Dividing both sides of the equation by 0.25 we get:

    x = 13500 / 0.25

    x = $54,000 invested at 7%

    &

    2 x 54000 + 48000

    = $156,000 invested at 9%

    Hence the amount invested at 7% is $54,000.

    & the amount invested at 9% is $156,000.
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