Answer:
At 7% $54,000
At 9% $156,000
Step-by-step explanation:
Let x be the amount invested at 7%, Then 2x + 48000 will be the amount invested at 9%
We know that:
7% = 0.07 & 9% = 0.09
So we can write the interest equation as follows:
0.07x + 0.09 (2x + 48000) = 17820
0.07x + 0.18x + 4320 = 17820
0.25x + 4320 = 17820
Subtracting 4320 from both sides of the equation we get:
0.25x = 17820 - 4320
0.25x = 13500
Dividing both sides of the equation by 0.25 we get:
x = 13500 / 0.25
x = $54,000 invested at 7%
&
2 x 54000 + 48000
= $156,000 invested at 9%
Hence the amount invested at 7% is $54,000.
& the amount invested at 9% is $156,000.
