Solve the problem.
-Walt made an extra $7000 last year from a part-time job. He invested part of the money at 6% and the rest at 8%. He made a total of $480 in interest. How much was invested at 8%?
A)$5000
B)$3500
C)$4000
D)$3000

Question

Quizplus · Accepted Answer

Let x be the amount invested at 8%. Then, the amount invested at 6% is $7000 - x. The total interest from both investments is given by the equation: 0.06(7000 - x) + 0.08x = 480. Solving this equation, we find x = $3000.

Solve the Problem. -Walt Made an Extra $7000 Last Year from a Part-Time