A total of $8,000 is deposited in two simple interest accounts. In one account, the annual simple interest rate is 5%, and on th

Question

3 years ago

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A total of $8,000 is deposited in two simple interest accounts. In one account, the annual simple interest rate is 5%, and on th

e second account, the annual simple interest rate is 6%. How much should be invested in each account so that the total annual interest earned is $450?

Mathematics

1 answer:

Elena-2011 [213] · Answer 1 · 2021-12-27T16:20:56+03:00

Elena-2011 [213]3 years ago

5 0

You need to invest $3000 at the 5% interest rate and invest $5000 the 6% interest rate to get a total annual interest of $450