SOLUTION: Can you help me solve this word question in the form of an algebraic equation? One year age Walt invested $12,000. He invested part of the money at 7% and the rest at 9%. He mad

Question 203551: Can you help me solve this word question in the form of an algebraic equation?
One year age Walt invested $12,000. He invested part of the money at 7% and the rest at 9%. He made a total of $970 in interest. How much was invested at 7%?
Answer by Earlsdon(6294) (Show Source): You can put this solution on YOUR website!
Let x = the amount Walter invested at 7%, then $12,000-x = the amount he invested at 9%.
The interest earned on these two amounts can be expressed (after converting the percentages to their decimal equivalent) as:
(0.07)x+(0.09)($12,000-x) and this sum is $970. So...
0.07x+0.09($12,000-x) = $970 Simplify and solve for x.
0.07x+$1,080-0.09x = $970 Combine the x-terms.
-0.02x+$1,080 = $970 Subtract $1,080 from both sides.
-0.02x = -$110 Divide both sides by -0.02
x = $5,500
Walter invested $5,500 at 7%
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