Multiple Choice
When Sara Whitehorse changed jobs, she rolled over the $54,725 in her retirement account into two simple interest accounts. On one account, the annual simple interest rate is 8.75%, and on the second account, the annual simple interest is 5%. How much must be invested in each account if the two accounts earned the same amount of annual interest?
(x at 8.75% and y at 5%.)
A) x = $19,900; y = $34,825
B) x = $19,910; y = $34,815
C) x = $34,825; y = $19,900
D) x = $20,000; y = $34,925
E) x = $20,001; y = $34,724
Correct Answer:

Verified
Correct Answer:
Verified
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