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anonymous
 5 years ago
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?
anonymous
 5 years ago
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?

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shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0You 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
 5 years ago
Best ResponseYou've already chosen the best response.0I dont understand whats the answer

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0That 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
 5 years ago
Best ResponseYou've already chosen the best response.0shadowfiend basically gave you the answer you have to unknowns (variables) and two equations to solve them with. just substitute one equation into the other.
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