an investment club placed $33,000 into two simple interest accounts. On one account, the annual simple intrest rate is 9.5%. On the other, the simple interest rate is 1.5%. How much should be invested in each account so that both accounts earn the same annual interest?

Answer 1

I've never taken a course that explores the University of North Dakota, so can't help you. (This, however, looks like a math question. You might want to put that in the SCHOOL SUBJECT line so a math tutor will see it.)

Answer 2

Acc. #1: Po1 = $X @ 9.5%.
Acc. #2: Po2 = $(33,000-X) @ 1.5%.

Po1*r1*t = Po2*r2*t.
X*0.095*1 = (33,000-X)*0.015*1.
0.095x = 49.5 - 0.015x.
0.11x = 495.
X = $4500.

33000-X = 33000-4500 == $28,500.

Answer 3

Correction: Change 49.5 to 495.