SOLUTION: Paul and Donna Petrie invested $12,000 part at 5% simple interest and the rest a 7% simple interest for a period of 1 year. How much did they invest at each rate if their total an

Question 659057: Paul and Donna Petrie invested $12,000 part at 5% simple interest and the rest a 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 josmiceli(19441) (Show Source): You can put this solution on YOUR website!
interest= principal x rate x time
Let = amount invested at 5%
= amount invested at 7%

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$2,000 = amount invested at 5%
$10,000 = amount invested at 7%

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