SOLUTION: Larry has an annual return of $213.00 from $3000.00 invested at simple interest, some at 5% and the rest at 8%. How much is invested at each rate?

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Question 904444: Larry has an annual return of $213.00 from $3000.00 invested at simple interest, some at 5% and the rest at 8%. How much is invested at each rate?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
x the amount at 8%
.08x + .05(3000-x) = 213
x = 63/.03, amount at 8%. Amount at 5% is 3000-x