Set Up an Equation That Can Be Used to Solve

question 15

Multiple Choice

Set up an equation that can be used to solve the problem. Solve the equation and answer the question asked.
-A college student earned $7200 during summer vacation working as a waiter in a popular restaurant. The student invested part of the money at 9% and the rest at 8%. If the student received a total of $613 in interest at
The end of the year, how much was invested at 9%?

• A) $3500
• B) $900
• C) $3700
• D) $3600

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Definitions:

Short Run

A period during which at least one factor of production is fixed, affecting a firm's ability to adjust to market changes.

Hold-Up Problems

Situations where one party in a negotiation exploits their bargaining advantage at the expense of others, often after a mutual investment or commitment is made.

Equipment Specific

Pertaining to or designed for particular pieces of equipment, often implying specialized usage or requirements.

Trading Partner

A trading partner is an entity such as a company, organization, or government with which another entity engages in the exchange of goods, services, or information.