An actor invests some money at 7%, and 21000 more than twice the amount at 9%. The total annual interest earned from the investment is 26140. How much did he invest at each amount?

He invested $___at 7% and $___at 9%

Question

An actor invests some money at 7%, and 21000 more than twice the amount at 9%. The total annual interest earned from the investment is 26140. How much did  he invest at each amount?

He invested $___at 7% and $___at 9%

anonymous · Answer

Assign a variable to something, and try writing an equation using that variable and the values from the problem.

anonymous · Answer

I asked because I don't how how to go about solving this problem.

anonymous · Answer

Let x be the amount invested at 7%.  Start there.

anonymous · Answer

If he invested x at 7% how much did he invest at 9%?

anonymous · Answer

The answer is in the first sentence of the problem.  If he invests x at 7%, he invested 21000 more than twice x at 9%.  How much did he invest at 9%?

anonymous · Answer

Once you get those expressions you can write expressions for the amount of interest earned at 7%, the amount of interest earned at 9%, and the total interest earned (the sum of those two parts).  This will be an expression in x.  They give you the total interest earned, so solve for x.

anonymous · Answer

Just as a way to check your answer once you get it, he invested a total of just over $300,000.