SOLUTION: dan invested a total of $4,000 in two different plans. the first plan returns 9% simple interest annually while the second plan returns 6%. if the total interest earned after one y

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Question 1130905: dan invested a total of $4,000 in two different plans. the first plan returns 9% simple interest annually while the second plan returns 6%. if the total interest earned after one year is $286, what principal was invested in each plan?
Answer by greenestamps(13200) About Me  (Show Source):
You can put this solution on YOUR website!


let x = amount invested at 9%
then 4000-x = amount invested at 6%

interest from investment at 9% = .09(x)
interest from investment at 6% = .06(4000-x)

The total interest is $286:

.09%28x%29%2B.06%284000-x%29+=+286

You can do the algebra to finish the problem.

Note that the problem is poorly formulated, because the amounts invested at the two rates are not whole numbers of dollars, or even whole numbers of cents... not realistic!