Mr. Ahmed is going to invest $20,000 in two accounts. He is going to invest in an individual retirement account (IRA) paying 4% annual interest and in a certificate of deposit (CD) paying 2% annual interest. Mr. Ahmed wants to earn $700 in annual interest. How much should he invest in each account?(1 point)
Responses
$16,350 in the account earning 4%; $3,650 in the account earning 2%
$16,350 in the account earning 4%; $3,650 in the account earning 2%
$15,000 in the account earning 4%; $5,000 in the account earning 2%
$15,000 in the account earning 4%; $5,000 in the account earning 2%
$5,000 in the account earning 4%; $15,000 in the account earning 2%
$5,000 in the account earning 4%; $15,000 in the account earning 2%
$3,650 in the account earning