SOLUTION: Paul and donna petricinvested $12,000. part at 5% simple interest and the rest at 7% simple interest for a period of 1 year. how much did they invest at each rate if their total an
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Question 611700: Paul and donna petricinvested $12,000. part at 5% simple interest and the rest at 7% simple interest for a period of 1 year. how much did they invest at each rate if their total annual interest from both investments was $800 (use interest= principal x rate x time.)
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Let 
represent the amount invested at 7% and then 
must be the amount invested at 5%.
Then the amount earned on the 7% investment is 
and the amount earned on the 5% investment is )
.
The sum of the two is $800, so:
\ =\ 800)
Solve for , then calculate
John
My calculator said it, I believe it, that settles it
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