Larry has an annual return of $213 from $3000 invested at simple interest, some at 5% and the rest at 8%. How much is invested at each rate?

Question

shadowfiend · Answer

You can derive a system of equations from this. The two amounts will sum to the total, so:

x + y = 3000

In addition, you know that x is invested at 0.05, y at 0.08, and that the interest from the two combined is 213, so:

0.05x + 0.08y = 213

Make sense?

anonymous · Answer

nooooo

shadowfiend · Answer

What's that?

anonymous · Answer

I dont understand whats the answer

shadowfiend · Answer

That isn't the answer. However, that is a system of equations that will let you find the answer. You have to find x and y given those two equations.

anonymous · Answer

shadowfiend basically gave you the answer
you have to unknowns (variables) and two equations to solve them with. 
just substitute one equation into the other.