You have $4000 to invest. If you'd like to earn exactly $638
in interest each year, how much should you invest in each of
two accounts, one that earns 8% per year and one that
earns 21% per year. (Round your answer to the nearest
dollar)
8%: $
21%: $

8%: $1554

21%: $2446

Step-by-step explanation:

This is a simple interest problem.

The simple interest formula is given by:

In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

After t years, the total amount of money is:

.

In this question:

Two earnings, that i am going to call A(8% per year) and B(21% per year).

Two principals, for A i am going to call P and for B it is the rest, so 4000 - P.

A:

One year, so

8% interest, so

Earnings A.

B:

21% interest, so

Principal (4000 - P).

You'd like to earn exactly $638 in interest each year.

This means that

Then

Now we have to solve the following system:

So, on the second equation:

Replacing on the first:

Rounding up to the nearest integer

P = 1554.

So on A, the 8% interest, you invest $1554.

On B, the 21% interest, you invest 4000 - 1554 = $2446.

idk

step-by-step explanation:

use that smart brain