Algebra

Larry has an annual return of $213 from $3000 invested at simple interest summit 5% and the rest at 8% how much is invested at each rate?

asked by Meredith
  1. "summit" = some at ???

    part at 5% --- x
    part at 8% ---- 3000-x

    .05x + .08(3000-x) = 213
    multiply each term by 100

    5x + 8(3000-x) = 21300

    solve for x and sub into my definition

    posted by Reiny

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