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Solve. -How Can $28,000 Be Invested, Part at 4% Annual Simple

Question 125

Multiple Choice

Solve.
-How can $28,000 be invested, part at 4% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts is equal at the end of the year?


A) $18,000 invested at 4%; $10,000 invested at 10%
B) $10,000 invested at 4%; $18,000 invested at 10%
C) $20,000 invested at 4%; $8000 invested at 10%
D) $8000 invested at 4%; $20,000 invested at 10%

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