SOLUTION: An account executive deposited $36,000 into two simple interest accounts. On the tax-free account the annual simple interest rate is 2.5%, and on the money market fund the annual s
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Question 987913: An account executive deposited $36,000 into two simple interest accounts. On the tax-free account the annual simple interest rate is 2.5%, and on the money market fund the annual simple interest rate is 3.5%. How much should be invested in each account so that both accounts earn the same annual interest?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Let 
represent the amount invested at 3.5%, then 
is the amount invested at 2.5%.
)
Solve for and calculate
John
My calculator said it, I believe it, that settles it
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