Walt made an extra $9000 last year from a part-time job. ?
He invested part of the money at 9% and the rest at 8%. He made a total of $770 in interest. How much was invested at 8%?
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He invested part of the money at 9% and the rest at 8%. He made a total of $770 in interest. How much was invested at 8%?
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9x + 8y = 77000
x + y = 9000
multiply second equation by 8
8x + 8 y = 72000
subtraction from first equation yields
x = 5 000 and y = 4 000
so 4 000 invested at 8 percent
9% = 0.09
8% = 0.08
x dollars in 8%
So (9000 - x) in 9%
x (.08) + (9000 - x) (0.08) = 770
Solve for x