An actor invests some money at 5 and 21000 more than four ti

An actor invests some money at 5%, and $21000 more than four times the amount at 11%. The total annual invest earned from the investment is $40040. How much did he invest at each amount? Use the six-step method. He invested $ at 5% and $ at 11%.

Solution

Dear Student Thank you for using Chegg !! Let the money invested at 5% ROI = X $ Money Invested at 11% ROI = 4X + 21000 $ Interest Earned at 5% ROI (A) = 0.05X $ Interest Earned at 11% ROI (B) = 0.11(4X + 21000) $ Time period =                            1.00 year Total Interest earned © =                  40,040.00 $ Hence A + B = C $ 0.05X + 0.44X + 2310 =                  40,040.00 0.05X + 0.44X + 2310 =                  40,040.00 $ 0.49X =                  37,730.00 $ X =                  77,000.00 $ 4X + 21000 =              3,29,000.00 $ Hence he invested 77000$ at 5% ROI & 329000 at 11% ROI Solved