SOLUTION: Tim invested $86,600 in two plans. Plan 1 is at an APR of 6% and plan 2 is at an APR of 11%. If he invested $8,000.00 less in plan 2 than in plan 1, how much can he expect to earn

SOLUTION: Tim invested $86,600 in two plans. Plan 1 is at an APR of 6% and plan 2 is at an APR of 11%. If he invested $8,000.00 less in plan 2 than in plan 1, how much can he expect to earn

Algebra.Com

Question 351765: Tim invested $86,600 in two plans. Plan 1 is at an APR of 6% and plan 2 is at an APR of 11%. If he invested $8,000.00 less in plan 2 than in plan 1, how much can he expect to earn in one year?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
X+(X-8,000)=86,600
2X=86,600+8,000
2X=94,600X=94,600
X=94,600/2
X=47,300
.06X+.11(X-8,000)
.06*47,300+.11(47,300-8,000)
2,838+.11*39300
2,838+4323=$7,161 AMOUNT OF THE INTEREST.

RELATED QUESTIONS
tim invested $88,000 in two plans. plan 1 is at an APR of 8% and plan 2 is at an APR of... (answered by stanbon)

tim invested $80,000 in two plans. plan 1 is at an APR of 7% and plan 2 is at an APR of... (answered by jorel1380)

please help me ! I need help 1. If -17 is added to a number and the sum is doubleed, the (answered by josmiceli)

A renowned mathematician received a $40000 bonus to accept a tenured... (answered by solver91311)

Hello, I have a question I need help with. Your time is appreciated. Deloris invests in (answered by Alan3354)

Annika invested in a plan that has an APR of 4%. She invested in a 9% APR account $2300... (answered by stanbon)

Ivy has two investments totaling $13,000. Plan A has an APR of 4% and Plan B has an APR... (answered by mananth)

$8000 invested at an APR of 2.9% for 12 years.What is the balance in the account after 12 (answered by Fombitz)

suppose $14000 is invested in 2 different funds. Part of it at 4% apr and the remaining... (answered by checkley77)