Scott invested a total of $9500 at two separate banks. One bank pays simple interest of 11% per year while the other pays simple interest at a rate of 9% per year. If Scott earned $973.00 in interest during a single year, how much did he deposit in each bank?

Answer 1

x = 11%
y = 9%

x + y = 9500
11x + 9y = 97300

x = 5900
y = 3600