College algebra

Question

An actor invests some money at ​%5, and ​$22000 more thanthree times at 8% the amount at The total annual interest earned from the investment is ​$30180. How much did he invest at each​ amount? Use the​ six-step method.

Answer 1

,08x + .05M = 30180

M= 22000+3x

.08x +.05(22000+3x) = 30180

.08x +.15x = 30180-.05(22000)

.23x = 30180-1100= 29080

x = 29080/.23 = $126,435 invested at 8%

22000+3(126435) = $401,305 invested at 5%

total invested = $527,740

check the answers

.08(126435)+.05(401305)

=10,114.8+20,653

=30,768= sort of close to 30180

30180/527,740= about 5.7% average return

5.7-5=.7

8-5.7=2.3

23/7= 3.1

401/126 = close to 3.1