SOLUTION: COULD SOMEONE HELP ME WITH THIS PROBLEM: 7. Select the set of equations that represents the following situation: Mike invested $434 for one year. He invested part of it at 9% an

Question 614853: COULD SOMEONE HELP ME WITH THIS PROBLEM:
7. Select the set of equations that represents the following situation: Mike invested $434 for one year. He invested part of it at 9% and the rest at 10%. At the end of the year he earned $40.16 in interest. How much did Mike invest at each rate of interest?
1) x + y = 434; 9x + 10y = 40.16
2) 0.09x + 0.10y = 434; x + y = 40.16
3) x + y = 434; 0.09x + 0.10y = 40.16
4) 0.09 � 434 + 0.10 � 434 = 40.16

Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
total investment is 434.
part is invested at 9% and part is invested at 10%
interest at end of year is 40.16
x = part he invested at 9%
y = part he invested at 10%
your equations are:
.09*x + .10*y = 40.16
x + y = 434.00
that looks a lot like selection 3.

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