Last year, Eric had $20,000 to invest. He invested some of it in an account that paid 10% simple int

Last year, Eric had $20,000 to invest. He invested some of it in an account that paid 10% simple interest per year, and he invested the rest in an account that paid 7% simple interest per year. After one year, he received a total of $1880 in interest. How much did he invest in each account?

Using our split fund interest calculator, we get:

• Fund 1 = 16,000
• Fund 2 = 4,000