SOLUTION: Walt made an extra $7000 last year from a part-time job. He invested part of the money at 6% and the rest at 8%. He made a total of $480 in interest. How much was invested at 8%?

Question 1108701: Walt made an extra $7000 last year from a part-time job. He invested part of the money at 6% and the rest at 8%. He made a total of $480 in interest. How much was invested at 8%?
Answer by ikleyn(52805) (Show Source): You can put this solution on YOUR website!
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Walt made an extra $7000 last year from a part-time job. He invested part of the money at 6% and the rest at 8%.
He made a total of $480 in interest. How much was invested at 8%?
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Interest at 8%  +  interest at 6% = total interest


0.08*x          +  0.06*(7000-x)  = 480


0.08x + 420 - 0.06x = 480

0.02x = 480 - 420  ====>  0.02x = 60  ====>  x [  =  = 3000.


Answer.  $3000 was invested at 8%.


Check.   0.08*3000 + 0.06*(7000-3000) = 480 dollars.   ! Correct !

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in this site.

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different methods of solution to the equations (Substitution, Elimination).

Also, you have this free of charge online textbook in ALGEBRA-I in this site
- ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic "Systems of two linear equations in two unknowns".

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Free of charge online textbook in ALGEBRA-I
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to your archive and use it when it is needed.

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