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

Question

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Answer 1

0.05x + 0.08(3000 - x) = 213

0.05x + 240 - 0.08x = 213

0.03x = 27

x = 900

$900 at 5%

(3000 - 900 =) $2100 at %8