Bob invested $17,000, part at 8% and part at 9%. If the total interest at the end of the year is $1,490, how?

Answer 1

Okay, let's say that x is the amount Bob invested at 8%, while y is the amount Bob invested at 9%.

Thus, x + y =17,000. We also know that 0.08x + 0.09y = 1,490.
Solving the first equation for a variable (either one will yield same answer), let's use y: 17,000 - x.

Now substitute (17,000 - x) for y in the second equation and solve for x.

That is how much he invested at 8%. To solve for y, take the calculated x value and plug it into 17,000 - x.

Answer 2

x + y = 17000

.08x + .09y = 1490
8x + 9(17000-x) = 149,000 = 8x - 9x + 153,000

x = 4,000; y = 13000

320 + 1170 = 1490