SOLUTION: Hello,
I have a question I need help with. Your time is appreciated.
A college student earned $5500 during summer vacation working as a waiter in a popular restaurant. The studen
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-> SOLUTION: Hello,
I have a question I need help with. Your time is appreciated.
A college student earned $5500 during summer vacation working as a waiter in a popular restaurant. The studen
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Question 466849: Hello,
I have a question I need help with. Your time is appreciated.
A college student earned $5500 during summer vacation working as a waiter in a popular restaurant. The student invested part of the money at 9% and the rest at 7%. If the student received a total of $429 in interest at the end of the year, how much was invested at 9%?
Thank you Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! A college student earned $5500 during summer vacation working as a waiter in a popular restaurant.
The student invested part of the money at 9% and the rest at 7%.
If the student received a total of $429 in interest at the end of the year, how much was invested at 9%?
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Using 2 variables you get 2 equations:
n + s = 5500 dollars
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0.09n + 0.07s = 429 dollars
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Multiply thru the 1st equation by 7
Multiply thru the 2nd equation by 100
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7n + 7s = 7*5500
9n + 7s = 42900
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Subtract and solve for "n":
2n = 4400
n = $2200 (amt invested at 9%)
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Cheers,
Stan H.
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