Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An actor invested some money at 5% simple interest, and $24 comma 000 more than twice the amount at 7 %. The total annual interest

An actor invested some money at 5% simple interest, and $24 comma 000 more than twice the amount at 7 %. The total annual interest earned from the investment was $17 comma 640. How much did he invest at each amount? Question content area bottom Part 1 He invested $ enter your response here at 5% and $ enter your response here at 7%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mathematics for Economics and Business

Authors: Ian Jacques

9th edition

129219166X, 9781292191706 , 978-1292191669

More Books

Students also viewed these Mathematics questions