document.write( "Question 120538: Mike invested $6000 for one year. He invested part of it at 9% and the rest at 11%. At the end of the year he earned $624 in interest. How much did he invest at each rate? \n" ); document.write( "
Algebra.Com's Answer #88364 by tutor_paul(519)\"\" \"About 
You can put this solution on YOUR website!
Set it up as two equations and two unknowns. Let x be the amount invested at 9%, and let y be the amount invested at 11%. Then you can write:
\n" ); document.write( "Eqn #1: \"x%2By=6000\"
\n" ); document.write( "Eqn #2: \"x%280.09%29%2By%280.11%29=624\"
\n" ); document.write( "=================================
\n" ); document.write( "Now you have 2 equations and 2 unknowns. Any time you have at least as many equations as you have unknowns, you can solve the problem!
\n" ); document.write( "Solve Eqn #1 for x:
\n" ); document.write( "\"x=6000-y\"
\n" ); document.write( "Substitute this value of x into Eqn #2:
\n" ); document.write( "\"%286000-y%29%2A0.09%2By%280.11%29=624\"
\n" ); document.write( "Solve for y:
\n" ); document.write( "\"540-0.09y%2B.11y=624\"
\n" ); document.write( "\"540%2B.02y=624\"
\n" ); document.write( "\"0.02y=84\"
\n" ); document.write( "\"highlight%28y=4200%29\"
\n" ); document.write( "Now that you have the answer for y, plug that into Eqn #1 and solve for x:
\n" ); document.write( "\"x%2B4200=6000\"
\n" ); document.write( "\"highlight%28x=1800%29\"
\n" ); document.write( "You can check these answer by making sure each equation holds true when you plug in these values for x and y.
\n" ); document.write( "====================
\n" ); document.write( "Good Luck,
\n" ); document.write( "tutor_paul@yahoo.com
\n" ); document.write( "
\n" ); document.write( "
\n" );