SOLUTION: One year ago 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%?
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Question 192991: One year ago 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 checkley77(12844) (Show Source): You can put this solution on YOUR website!
.07x+.09(12,000-x)=970
.07x+1,080-.09x=970
-.02x=970-1,080
.02x=110
x=110/.02
x=$5,500 is the amount nvested @ 7%.
12,000-5,500=$6,500 amount invested @ 9%.
Proof:
.07*5,500+.09*6,500=970
385+585=970
970=970
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