Question

Bob has two savings accounts. He deposited $150 more into account B than account A. After a period of time, account A has earned $30 in interest at 3% and account B has earned $70 in interest at a rate of 4%.

1.Write an equation to represent the situation. Explain each variable used.

2.How much money did Bob initially deposit into each account? Solve the equation.

Answer 1

let money diposited in a be x

Answer 2

money in b is x+150

Answer 3

is it simple intrest or compound