SOLUTION: Walt made an extra $7000 last year from a part-time job. He invested part of the money at 8% and the rest at 6%. He made a total of $500 in interest. How much wasinvested at 6%?

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Question 314627: Walt made an extra $7000 last year from a part-time job. He invested part of the money at 8% and the rest at 6%. He made a total of $500 in interest. How much wasinvested at 6%?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.08X+.06(7,000-X)=500
.08X+420-.06X=500
.02X=500-420
.02X=80
X=80/.02
X=4,000 AMOUNT INVESTED @ 8%.
7,000-4,000=3,000 AMOUNT INVESTED @ 6%.
PROOF:
.08*4,000+.06*3,000=500
320+180=500
500=500