Mike deposited $6500 into two saving accounts bearing simple interest. One of the accounts has an interest rate of 3% while the

Question

3 years ago

15

Mike deposited $6500 into two saving accounts bearing simple interest. One of the accounts has an interest rate of 3% while the

other rate is 6%. If the total interest earned after one year is $225, find the amount deposited into each of the accounts.

Mathematics

1 answer:

ololo11 [35] · Answer 1 · 2022-02-12T00:49:17+03:00

ololo11 [35]3 years ago

7 0

0.03x+0.06 (6500-x)=225
Solve for x
0.03x+390-0.06x=225
0.03x-0.06x=225-390
-0.03x=-165
X=165÷0.03
X=5500 invested at 3%

6500-5500=1000 invested at 6%