Question

How can $30,000 be invested part at 5% annual simple interest in the reminder at 10% annual simple interest so that the interest earned by the two accounts will be equal

Answer 1

Explanation:

To find out how $30,000 can be invested so that the interest earned by two accounts at 5% and 10% annual simple interest will be equal, you can use the following equation:

x * 0.05 = (30000 - x) * 0.1

where x is the amount invested at 5% interest.

You can then solve for x:

x = (30000 * 0.1) / (0.05 + 0.1)

x = $15,000

So, $15,000 should be invested at 5% annual simple interest, and the remaining $15,000 should be invested at 10% annual simple interest, in order for the interest earned by the two accounts to be equal.