With income earned by selling the rights to his life story, an actor invests some of the money at 3% and 30,000 more than twice as much at 4%. The total annual interest earned from the investments is $5600. How much is invested at each rate?

Answer 1

let the amount invested at 3% be x
then the amount invested at 4% = 2x+30000

solve for x

.03x + .04(2x+30000) = 5600

Answer 2

Thank you so much Reiny.

Answer 3

welcome