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.
1 answer:
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%
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