Homework Help: Math

Posted by Lyn on Monday, September 10, 2012 at 12:03am.

Larry has an annual return of $213.00 from $3000.00 invested at simple interest. One at 5% and the other at 8%. How much is invested at each rate. (Hint, Interest earned = amount invested x rate of interest.)

Math - Steve, Monday, September 10, 2012 at 5:13am
.05x + .08(3000-x) = 213.00
x=900

so, $900 at 5% and $2100 at 7%

Answer this Question

Related Questions

Math - Find the interest if $ 9,000 is invested at an annual simple interest ...
MATH - An investment adviser invested $14,000 in two accounts. One investment ...
math - Two investments earn a total annual income of $2825. One investment is in...
Algebra - An investment adviser invested $14,000 in two accounts. One investment...
MINE Math - 16. Calculate the interest earned on a savings account with $800.00 ...
math - Calculate the interest earned on a savings account with $900.00 that is ...
Math - melissa invested a some of money at 3% annual simple inter she invested ...
computer science - When $1000 is deposit at 5% simple interest, the amount grows...
Math - An investment advisor invested a total of $12,000, part at 2.5% annual ...
math - if $9,000 is to be invested, part at 13% and the rest at 8% simple ...

For Further Reading

First Name:
School Subject:
Answer: