Question

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

Answer 1

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