Solve the problem.
-Walt made an extra $7000 last year from a part-time job. He invested part of the money at 2% and the rest at 3.75%. He made a total of $192.50 in interest. How much was invested at 3.75%?
A) $4000
B) $3500
C) $5000
D) $3000

Question

Quizplus · Accepted Answer

Let x be the amount invested at 3.75%. Then, the amount invested at 2% is $7000 - x. The equation for the total interest is 0.02(7000 - x) + 0.0375x = 192.50. Solving this equation gives x = $3000.

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