Lorenzo Invested $22,000 into Two Accounts; One Pays 4% Simple

question 27

Multiple Choice

Lorenzo invested $22,000 into two accounts; one pays 4% simple interest and the other pays 7% simple interest. At the end of the first year, Lorenzo's total return was $1150. How much did he Invest in each account?

• A) $13,000 at 4%; $9000 at 7%
• B) $9000 at 4%; $13,000 at 7%
• C) $10,000 at 4%; $12,000 at 7%
• D) $12,000 at 4%; $10,000 at 7%

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