SOLUTION: Walt made an extra $10,000 last year from a part-time job. He invested part of the money at 2% and the rest at 3.75%. He made a total of $270.00 in interest. How much was invested
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Question 885119: Walt made an extra $10,000 last year from a part-time job. He invested part of the money at 2% and the rest at 3.75%. He made a total of $270.00 in interest. How much was invested at 3.75%? Answer by nerdybill(7384) (Show Source):
You can put this solution on YOUR website! Walt made an extra $10,000 last year from a part-time job. He invested part of the money at 2% and the rest at 3.75%. He made a total of $270.00 in interest. How much was invested at 3.75%?
.
Let x = amount invested at 3.75%
then
10000-x = amount invested at 2%
.
.0375x + .02(10000-x) = 270
.0375x + 200-.02x = 270
.0175x + 200 = 270
.0175x = 70
x = 70/.0175
x = $4000 (answer)
