James invested $20,000 into two accounts. One account pays 6% simple interest, while the other account pays 5% simple interest.

Question

James invested $20,000 into two accounts. One account pays 6% simple interest, while the other account pays 5% simple interest. If his interest earnings total $1120 after one year, how much did he invest at each rate?

Kunduz · Accepted Answer

Click to see the answer