Solve the problem.

-Annika invested in a plan that has an APR of 8%. She invested in a 11% APR account $2500 more than she invested in the 8% account. If the total interest from the investments after 1 year is $3695,
Then what is the total amount that she invested?
A) $38,500
B) $20,500
C) $33,500
D) $36,000

Question

Solve the problem.

-Annika invested in a plan that has an APR of 8%. She invested in a 11% APR account $2500 more than she invested in the 8% account. If the total interest from the investments after 1 year is $3695,
Then what is the total amount that she invested?
A) $38,500
B) $20,500
C) $33,500
D) $36,000

Quizplus · Accepted Answer

Let x be the amount invested in the 8% account. Then, the amount invested in the 11% account is x + 2500. The interest earned from the 8% account is 0.08x, and the interest earned from the 11% account is 0.11(x + 2500). The total interest earned is 0.08x + 0.11(x + 2500) = 3695. Solving for x, we get x = 20000. Therefore, the total amount invested is x + (x + 2500) = 45000.

Solve the Problem. -Annika Invested in a Plan That Has an APR of Has