Question

$20,000 is invested into two accounts that pays 2.5% and 3% simple interest respectively into two accounts. If the total interest earned after one year is $540. Show complete work.

Answer 1

You should first NAME the amounts in the two accounts.

Answer 2

Not listed.

Answer 3

I didn't say find their names, I said NAME THEM. Really, anything will do. Just write it down.

H = Amount invested at 2½%
T = Amount invested at 3%

There. That was about half the problem.

Now what? Translate the problem statement in terms of H and T.