document.write( "Question 412000: Select the set of equations that represents the following situation: Mike invested $706 for one year. He invested part of it at 5% and the rest at 3%. At the end of the year he earned $28.00 in interest. How much did Mike invest at each rate of interest? \n" ); document.write( "
Algebra.Com's Answer #289483 by emargo19(101) ![]() You can put this solution on YOUR website! Let x amt of dollars be invested at 5% and y amt of dollars be invested at 3%. \n" ); document.write( "Then 0.05x= interest on 5 percent. \n" ); document.write( "0.03y= interest on 3 percent.\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Multiply Eq (1) by 0.05 \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " Subtract to eliminate x. \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Substitute the value of y in equation 1. \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "So $341 was invested at 5% and $365 were invested at 3%.\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |