Solve the problem.
-Walt made an extra $ 10,000 last year from a part-time job. He invested part of the money at 3% and the rest at 4%. He made a total of $ 340 in interest. How much was invested at 4%?
A) $ 4000
B) $ 6000
C) $ 8000
D) $ 5000

Question

Quizplus · Accepted Answer

Walt invested $4000 at 4%. Let x be the amount invested at 3%, then (10000 - x) is the amount invested at 4%. The equation for the total interest is 0.03x + 0.04(10000 - x) = 340. Solving for x gives x = 6000, so $4000 (10000 - 6000) was invested at 4%.

Solve the Problem. -Walt Made an Extra $ 10,000 Last Year from a Year