Question

An Actor invest some money at 6% and $41000 more than twice the amount at 9% the total annual interest earned from the investment is $32490 how much did he invest at each amount use the 6 step method

Answer 1

Answer: he invested $120000 at 6% and $281000 at 9%

Step-by-step explanation:

Let x represent the amount invested at 6%

Let y represent the amount invested at 9%

The Actor invest some money at 6% and $41000 more than twice the amount at 9%. This means that

y = 2x + 41000- - - - - - - - - 1

The interest gotten from x is

6/100 × x = 0.06x

The interest gotten from y is

9/100 × y = 0.09y

The total annual interest earned from the investment is $32490. It means that

0.06x + 0.09y = 32490- - - - - - - - -2

Substituting equation 1 into equation 2, it becomes

0.06x + 0.09(2x + 41000) = 32490

0.06x + 0.18x + 3690 = 32490

0.06x + 0.18x = 32490 - 3690

0.24x = 28800

x = 28800/0.24

x = 120000

Substituting x = 120000 into equation 1, it becomes

y = 2(120000) + 41000

y = 281000