Anonymous Anonymous Asked 10mths ago. A college student earned $8900 during summer vacation working as a waiter in a popular restaurant. Part was inve

postillan4 2021-01-13 Answered
Anonymous Anonymous Asked 10mths ago.
A college student earned $8900 during summer vacation working as a waiter in a popular restaurant. Part was invested at 10% simple interest and the remainder at 6% simple interest. At the end of one year, the student had earned $674 interest. How much was invested at 10%?
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Expert Answer

Benedict
Answered 2021-01-14 Author has 108 answers
If x is invested at 6%, then 8900x is invested at 10%.
The interest earned in one year is $674 so we can write:
0.06x+0.10(8900x)=674
Solve for x:
0.06x+8900.10x=674
0.04x+89=674
0.04x=216
x=5400
So, 89005400=$3500 was invested at 10%.
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