You invested $3000 between two accounts paying 5% and 8% annual interest, if the total interest earned for the year was $210 how much was invested at each rate

Given:

Total amount invested = $3000

Rate of annul interest on investments are 5% and 8%.

Total interest earned for the year = $210

To find:

The amount invested at each rate.

Solution:

Let the amount invested at 5% be and the amount invested at 8% be .

Total interest earned for the year = $210

It means. 5% of + 8% of = 210

Multiply both sides by 100.

Divide both sides by -3.

Now,

Therefore, the amount invested at the rate of 5% is $1000 and the amount invested at the rate of 8% is $2000.

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