Question

Last year, Chau had $10,000 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 $590
in interest. How much did he invest in each account?

First Account=
Second Account =

Answer 1

Account with 8% interest per year: $3000

Account with 5% interest per year: $7000

8% of 3000 = 240

5% of 7000 = 350

240+ 350 = 590