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)\"\" \"About 
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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( "\"x+%2B+y+=+706\" (equation 1)
\n" ); document.write( "\"0.05x+%2B+0.03y+=+28\" (equation 2)\r
\n" ); document.write( "\n" ); document.write( "Multiply Eq (1) by 0.05
\n" ); document.write( "\"0.05x+%2B+0.05y+=+35.3\" (equation 1)
\n" ); document.write( "\"0.05x+%2B+0.03y+=+28\" (equation 2)\r
\n" ); document.write( "\n" ); document.write( " Subtract to eliminate x.
\n" ); document.write( "\"0.02y+=+7.3\"
\n" ); document.write( "\"y+=+365\"\r
\n" ); document.write( "\n" ); document.write( "Substitute the value of y in equation 1.
\n" ); document.write( "\"x+%2B+365+=+706\"
\n" ); document.write( "\"x=+341\"
\n" ); document.write( "So $341 was invested at 5% and $365 were invested at 3%.\r
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