Question

Mike deposited $6500 into two saving accounts bearing simple interest. One of the accounts has an interest rate of 3% while the other rate is 6%. If the total interest earned after one year is $225, find the amount deposited into each of the accounts.

Answer 1

@jim_thompson5910

Answer 2

@iambatman

Answer 3

@zaibali.qasmi

Answer 4

@ganeshie8

Answer 5

from the information given
P1 + P2 = 6500
I = P1R1T1/200 + P2R2T2/100 = 225

P1 the amount in account 1
P2 the amount in account 2
I = Principal *Rate as %* Time in years
you also know Rate for account 2 = 2* Rate for account 1
and T1 = T2

can you plug the numbers and solve by substitution?

Answer 6

plug what number in?

Answer 7

the rate, the time typo above p1r1t1/100 % means per 100

Answer 8

so whats the equation

Answer 9

though