Problema 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 3.5%. He made a total of $245.00 in interest. How much was invested at 3.5%?
Answer provided by our tutors
let
x = the money invested at 2%
y = the money invested at 3.5%
Walt made an extra $10,000 last year from a part-time job:
x + y = 10,000
He invested part of the money at 2% and the rest at 3.5%. He made a total of $245.00 in interest:
0.02x + 0.035y = 245.00
by solving the system of equations:
x + y = 10,000
0.02x + 0.035y = 245.00
we find:
x = $7,000
y = $3,000
click here to see the step by step solution of the system of equations:
Walt invested $3,000 at 3.5%.