Michael just retired, and has $740,000 to invest. A very safe Certificate of Deposit (CD) account pays 1.5%, while a riskier bond fund pays 8.5% in interest. Michael figures he needs $22,000 a year in interest to live on. How much should he invest in each account to make enough interest while minimizing his risk?

$ __ at 1.5%

$ __ at 8.5% (Round answers to the nearest dollar.)