Inactive Tutor answered 01/11/26
.08)(37,000+2x) + .10x = 18,260
2,660 +16x +.10x = 18,260
-.26x = 15,600
x = 15,600/.26 = 60,230.77= amount invested at 10%
37000 +2x + 37000+ 2(60230.77 = 37000 +120,461.54= $157,461.54 invested at 8%
Garret W.
asked 03/23/20An actor invested some money at 8% simple interest, and $37,000 more than twice the amount at 10%. The total annual interest earned from the investment was $18,260. How much did he invest at each amount?
Inactive Tutor answered 01/11/26
.08)(37,000+2x) + .10x = 18,260
2,660 +16x +.10x = 18,260
-.26x = 15,600
x = 15,600/.26 = 60,230.77= amount invested at 10%
37000 +2x + 37000+ 2(60230.77 = 37000 +120,461.54= $157,461.54 invested at 8%
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