Solve the investment problem.
-Walt made an extra $\$ 5000$ last year from a part-time job. He invested part of the money at $10 \%$ and the rest at $8 \%$. He made a total of $\$ 420$ in interest. How much was invested at $8 \%$ ?
A) $\$ 1000$
B) $\$ 3000$
C) $\$ 4000$
D) $\$ 2500$

Question

Quizplus · Accepted Answer

Walt invested a total of $5000. Let x be the amount invested at 10%, then $5000 - x is the amount invested at 8%. The interest from these investments is $420. The equation is $0.10x + 0.08(5000 - x) = 420$. Solving for x gives $1000 at 10%, so $4000 at 8%.

Solve the Investment Problem $5000\$ 5000$5000 Last Year from a Part-Time Job

Solve the Investment Problem $\$ 5000$ Last Year from a Part-Time Job