# SOLUTION: A man invested \$6,000, part of it at 5% simple interest and the rest at 7% simple interest. If his annual interest income is \$372, how much did he invest at each rate?

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 Click here to see ALL problems on Money Word Problems Question 8787: A man invested \$6,000, part of it at 5% simple interest and the rest at 7% simple interest. If his annual interest income is \$372, how much did he invest at each rate?Answer by Earlsdon(6287)   (Show Source): You can put this solution on YOUR website!You can set up your equation like this: Let x = the amount invested at 5% simple interest. 5%(x) + 7%(\$6,000.00-x) = \$372.00 Simplify and solve for x. Change percents to decimals. 0.05(x) + 0.07(\$6,000.00-x) = \$372.00 0.05x + \$420.00 - 0.07x = \$372.00 Subtract \$420.00 from both sides. (0.05-0.07)x = -\$48.00 -0.02x = -\$48.00 Divide both sides by -0.02 x = \$2,400.00 invested at 5% simple interest. \$6,000.00-\$2,400.00 = \$3,600.00 invested at 7% simple interest. Check: 0.05(\$2,400.00) + 0.07(\$3,600) = ? If it comes to \$372.00, all is cool!