Question

HELP!!! Lucas deposits $250,000 into two investment accounts. Over a year, the first account

Answer 1

The amount deposited in the account that earns 3.6% interest is $57,600 and the amount  deposited in the account that earns 2.1% interest is $192,400

The first step is to determine the amount of interest he earned in total over a year

Interest = Amount in the account - amount deposited

$256,114 -  $250,000 = $6,114

The second step is to formulate two set of equations and use simultaneous equation to solve the question

a + b = $250,000 equation 1

0.036a + 0.021b = $6,114 equation 2

Where a represent amount deposited in the account that earns 3.6% interest

b  represent amount deposited in the account that earns 2,1% interest

Multiply equation 1 by 0.036

0.036a + 0.036b = 9000 equation 3

Subtract equation 2 from 3

2886 = 0.015b

divide both sides of the equation by 0.015

b = $192,400

Substitute for b in equation 1

a + 192,400 = 250,000

a = 250,000 - 192400

a = $57,600

To learn more about simultaneous equations, please check: brainly.com/question/23589883?referrer=searchResults