Answer:
Therefore the amount in the 4% savings account = $550
Step-by-step explanation:
i) the total amount = $1500
ii) let the amount placed in the 4% interest savings account = x
iii) let the amount placed in the 5% interest savings account = y
iv) therefore fro i) we can say x + y = 1500
v) the total interest gained = $69.5
vi) therefore we can write 0.04x + 0.05y = 69.50
vii) multiplying equation vi) with 100 we get 4x + 5y = 6950
viii) Multiplying the equation in iv) by 5 we get 5x + 5y = 7500
ix) Subtracting equation in vii) from equation in viii) we get x = $550
x) Therefore the amount in the 4% savings account = $550
