SOLUTION: Not understanding how to put this question in an algebraic expression! Mike made $9,000 last year from an extra job. He invested part of the money at a 9% annual rate of interest a
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Question 295751: Not understanding how to put this question in an algebraic expression! Mike made $9,000 last year from an extra job. He invested part of the money at a 9% annual rate of interest and the rest of it at 8%. At the end of the year, he made a total of $770 in interest. How much was invested at the 8%?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Let 
represent the amount invested at 8%. Then, since the rest of his money was invested at 9%, the amount invested at 9% was 
The amount of money he earned on the 8% investment was then 
, and the amount of money he earned on the 9% investment was )
.
Since the total amount that he earned was $770, you can say:
\ =\ 770)
Now just solve for .
John
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