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Select the set of equations that represents the following situation: Mike invested $434 for one year.He invested part of it at 9% and the rest at 10%.At the end of the tear he earned $40.16 in interest.How much did Mike invest at each rate of interest.?

  • Algebra -

    Mike invested:
    $X @ 9%.
    $Y @ 10%.

    Eq1: X + Y = 434.
    Eq2: 0.09X + 0.10Y = 40.16.
    Multiply BOTH sides of Eq2 by 100:
    Eq2: 9X + 10Y = 4016.

    NOTE: Under choice "a", They forgot to
    multiply the rt side by 100. Thererfore,if they change 40.16 to 4016; "a" would be the correct choice.

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