Question

Last year, Joe had $20,000 to invest. He invested some of it in an account that paid 5% simple interest per year, and he invested the rest in an account that

paid 8% simple interest per year. After one year, he received a total of $1450 in interest. How much did he invest in each account?

Answer 1

5% - 5000

8% - 15000

Explanation:

trial and error or use pv formula either way works