Question

Paula invested into two accounts; one pays 5% simple interest and the other 6% simple interest. She invested $3000 more in the account paying 6% than in the other account 5%. At the the end of the first year, Paula total return was 730. How much did she invest in each account?

Answer 1

$PO @ 5%.
Po+3000) @ 6%.

I = Po*r*t + (Po+3000)*r*t = $730
Po*0.05*1 + (Po+3000)*0.06*1 = 730
0.05Po + 0.06Po+180 = 730
0.11Po = 730-180 = 550
Po = $5,000 @ 5%.
Po+3000 = $8,000 @ 6%.