Answer: she deposited $2000 at 1.9%
She deposited $4000 at 3.3%
Step-by-step explanation:
Let x represent the amount that she deposited in the account earning 1.9% simple interest.
Let y represent the amount that she deposited in the account earning 3.3% simple interest.
Aliya deposited half as much money in a savings account earning 1.9% simple interest as she invested in a money market account that earns 3.3% simple interest. This means that
x = y/2
The formula for simple interest is expressed as
I = PRT/100
For the savings account earning 1.9% simple interest,
I = (x × 1.9 × 1)/100 = 0.019x
For the money market account that earns 3.3% simple interest,
I = (y × 3.3 × 1) = 0.033y
If the total interest after one year is $170.00, it means that
0.019x + 0.033y = 170 - - - - - - - - - -1
Substituting x = y/2 into equation 1, it becomes
0.019×y/2 + 0.033y = 170
Cross multiplying, it becomes
0.019y + 0.066y = 340
0.085y = 340
y = 340/0.085
y = $4000
x = y/2 = 4000/2
x = 2000
