document.write( "Question 167908: Michael received $1,000 as a graduation gift. He invested part of the money at 5% and the rest at 6%. His interest after one year is $58. How much did he invest at each rate? \n" ); document.write( "

Algebra.Com's Answer #123759 by checkley77(12844) $\"\"$ $\"About$

You can put this solution on YOUR website!
.06X+.05(1,000-X)=58
\n" ); document.write( ".06X+50-.05X=58
\n" ); document.write( ".01X=58-50
\n" ); document.write( ".01X=8
\n" ); document.write( "X=8/.01
\n" ); document.write( "X=$800 INVESTED @ 6%
\n" ); document.write( "1,000-800=$200 INVESTED @5%
\n" ); document.write( "PROOF:
\n" ); document.write( ".06*800+.05*200=58
\n" ); document.write( "48+10=58
\n" ); document.write( "58=58 \n" ); document.write( "

\n" );