An investment club placed $36,000 into two simple interest accounts. On one account, the annual simple interest rate is 8.5%. On the other, 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 1

If x is at 8.5%, then the rest (36000-x) is at 3.5%

So, equate the interests earned:

.085x = .035(36000-x)