Sue has $25,000 to invest. She deposits some in stocks and the rest in annuities. If the stocks are at a rate of 6% and the annuities are at a rate of 3% and Sue wants to earn $1200 by the end of the year, find how much Sue deposited into each.
Using our split fund interest calculator, we get:
Using our split fund interest calculator, we get:
- 15,000 in stocks
- 10,000 in annuities