How much did invest at each amount.

Question

An actor invests some money at 9%, and $20000 more than four times the amount at 11%. The total annual interest earned from the investment is $54670.

Answer 1

 

.09x + .11(4x + 20,000) = 54670

 

.09x + .44x + 2200 = 54670

 

.53x +2200 = 54670

 

.53x = 54670 - 2200

 

.53x =  52470

 

x = 103,150.94