Raymond B. answered 07/20/21
Math, microeconomics or criminal justice
.11(4000-X) = 212 + .08X
.11(4000) - .11X = 212 + .08X
440 -212 = .08X +.11X
.19X = 228
X = 228/.19 = $1,200 invested at 8%
4000-1200 = $28,000 invested at 11%
Q M.
asked 07/20/21Joe invests a total of $4000 in two plans.
Part of the money is invested at 8% per year
and the rest at 11% per year. The interest
paid after 1 year on the 11% investment is
$212 more than the interest paid on the 8%
investment. How much did Joe invest in
each?
Raymond B. answered 07/20/21
Math, microeconomics or criminal justice
.11(4000-X) = 212 + .08X
.11(4000) - .11X = 212 + .08X
440 -212 = .08X +.11X
.19X = 228
X = 228/.19 = $1,200 invested at 8%
4000-1200 = $28,000 invested at 11%
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