Question

Help please:
Bob has two savings accounts. He deposited $200 more into account A than account B. After a period of time, account A has earned $84 in interest at 3%, and account B has earned $24 in interest at a rate of 2%.

Write an equation to represent the situation. Explain each variable used.
How much money did Bob initially deposit into each account? Solve the equation.

Answer 1

If you could solve with steps that would be great.

Answer 2

Could you help me please ? @jim_thompson5910

Answer 3

what is your variable?

Answer 4

I didn"t pick one as yet. You could pick one if you would like.

Answer 5

what's something that is unknown in this problem?

Answer 6

The principle?

Answer 7

for both accounts A and B

so let

x = amount deposited in account A
y = amount deposited in account B

Answer 8

okay

Answer 9

it says

"He deposited $200 more into account A than account B"

so that means

x = y+200

Answer 10

"After a period of time, account A has earned $84 in interest at 3%"

so,

I = P*r*t

84 = x*0.03*t

84 = 0.03*x*t

Answer 11

ohhh okay

Answer 12

also "account B has earned $24 in interest at a rate of 2%"

I = P*r*t

24 = y*0.02*t

24 = (x+200)*0.02*t

Answer 13

So your two equations are

84 = 0.03*x*t
24 = (x+200)*0.02*t

Answer 14

you can use them both to solve for x and t

Answer 15

okayy thanks so much! Now i understand what i did wrong when setting it up!

Answer 16

you're welcome