Asked by B.B.
You invested $25,000 into two accounts: one that has simple 3% interest, the other with 2% interest. If your total interest payment after one year was $600, how much was in each account after the year passed?
Answers
Answered by
Steve ®
If x is at 3%, then
.03x + .02(25000-x) = 600
Having found x, then the two accounts hold
1.03x and 1.02(25000-x)
.03x + .02(25000-x) = 600
Having found x, then the two accounts hold
1.03x and 1.02(25000-x)
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