"summit" = some at ???
part at 5% --- x
part at 8% ---- 3000-x
.05x + .08(3000-x) = 213
multiply each term by 100
5x + 8(3000-x) = 21300
solve for x and sub into my definition
Larry has an annual return of $213 from $3000 invested at simple interest summit 5% and the rest at 8% how much is invested at each rate?
1 answer