Answer:
Damien will deposit $200 into the Utopian Financing savings account.
Step-by-step explanation:
3X (Merchant Bank) + 1X (Bank of Chance) + 02 x 4X (Utopian Financing) = $1,200
3X + 1X + (0.2 x 4X) = 1,200
3X + 1X + 0.8X = 1,200
4.8X = 1,200
X = 1200 / 4.8
X = 250
So, as the deposit in Bank of Chance will be of $250, and the deposit in Merchant Bank will be of $750 (three times the amount deposited at the Bank of Chance), both combined will be worth $1,000. As the deposit in Utopian Financing will be just the 20% of the other two deposits, it will be worth $200.
Damien will deposit $200 into the Utopian Financing savings account.