Question

Ernie deposited $4000 between two savings accounts. One account paid 4% simple interest and the other paid 2%. At the end of one year, Ernie had earned $140 in interest for both accounts. How much money did Ernie deposit in the account that paid 4% interest?
A) $2000
B) $2500
C) $2800
D) $3000

Answer 1

@UliNK

Answer 2

$3000
x = amount at 4%
4000-x = amount at 2%

.04(amt) + .02(amt) = 140
.04(x) + .02(4000-x) = 140
100[.04(x) + .02(4000-x) = 140]
4x + 2(4000-x) = 14000
4x + 8000 - 2x = 14000
2x = 6000
x = $3000 @ 4%

Answer 3

nvm i got it