Asked by j

An actor invested some money at 9% simple interest, and $30,000 more than four times the amount at 12%. The total annual interest earned from the investment was $38.370. How much did the actor invest at each amount?
$____ at 9%
$____ at 12%

Answers

Answered by oobleck
Assuming a typo in the interest amount,
.09x + .12(30000+4x) = 38370
Answered by j
I think I solved it...
.09(61000)+.12(274000) = $38,370
so...
$61k at 9%
$274k at 12%
Feel free to comment as I am bad at explaining how I came up with these numbers.
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