SOLUTION: Stan invested $5,000, part at 8% and part at 17%. If the total interest at the end of the year is $490, how much did he invest at 8%? How do I figure this problem out? Thank you

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Question 70375: Stan invested $5,000, part at 8% and part at 17%. If the total interest at the end of the year is $490, how much did he invest at 8%?
How do I figure this problem out? Thank you
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Stan invested $5,000, part at 8% and part at 17%. If the total interest at the end of the year is $490, how much did he invest at 8%?
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Let amt. invested at 8% be "x" ; Interest on that is 0.08x dollars
Amt. invested at 17% is "5000-x"; interest is 0.17(5000-x)=850-.17x dollars
EQUATION:
interest + interest = 490 dollars
0.08x + 850-0.17x = 490
Multiply thru by 100 to get rid of the decimals
8x + 85000 - 17x = 40000
-9x = -45000
x=$5000 (amt. invested at 8%)
Cheers
Stan H.