SOLUTION: walt made an extra $5000 last year from a part-time job. He invested part of the money at 9% and the rest at 7%. He made a total of $370 in interest. how much was invested at 7%?

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: walt made an extra $5000 last year from a part-time job. He invested part of the money at 9% and the rest at 7%. He made a total of $370 in interest. how much was invested at 7%?      Log On


   

Question 156068: walt made an extra $5000 last year from a part-time job. He invested part of the money at 9% and the rest at 7%. He made a total of $370 in interest. how much was invested at 7%?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.09x+.07(5,000-x)=370
.09x+350-.07x=370
.02x=370-350
.02x=20
x=20/.02
x=$1,000 invested @ 9%.
5,000-100=4,000 invested @ 7%
Proof:
.09*1,000+.07*4,000=370
90+280=370
370=370