SOLUTION: Bob earned $6000 mowing lawns over the summer. He invested part of the $6000 at 3% simple interest and the rest of the $6000 at 4%. He earned a total of $220 in interest. How much

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Bob earned $6000 mowing lawns over the summer. He invested part of the $6000 at 3% simple interest and the rest of the $6000 at 4%. He earned a total of $220 in interest. How much       Log On

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Question 83379: Bob earned $6000 mowing lawns over the summer. He invested part of the $6000 at 3% simple interest and the rest of the $6000 at 4%. He earned a total of $220 in interest. How much did he invest at each rate?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
.03%2Ax+%2B+.04%2A%286000+-+x%29+=+220
.03x+%2B+240+-+.04x+=+220
-.01x+=+-20
.01x+=+20
x+=+2000 dollars invested @ 3%
6000+-+x+=+4000 dollars invested @ 4%
check
.03%2Ax+%2B+.04%2A%286000+-+x%29+=+220
.03%2A2000+%2B+.04%2A%286000+-+2000%29+=+220
60+%2B+240+-+80+=+220
220+=+220
OK