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

Algebra ->  Human-and-algebraic-language -> 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      Log On


   

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) About Me  (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:



Solve for , then calculate

John

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