Question

Sarah wants to deposit 2125 into savings accounts at three different banks: Bank of the US, 7/4 Bank, and Catch Bank. She will deposit four times as much into Catch Bank as 7/4 Bank because they offer a higher interest rate. She also expects the Bank of the US deposit to be .25% of the total of the other two deposits. How much will Sheila deposit into the Bank of the US savings account?

Answer 1

$420 into the Bank of the US

Explanation:

x + 4x + 5/4x = 2125

5x + 5/4x = 2125.

25x/4 = 2125

25x =8500

x = $340 into the 7/4 bank

4(340) = $1340 into the Catch Bank

1/4(1680)= $420 into the Bank of the US

Answer 2

$425

Explanation:

if US bank is a

7/4 bank is b

and catch bank is c

the amount in catch bank is equal to the amount in 7/4 bank x 4 so

c = 4b

the amount in us bank is 25% of the 7/4 bank plus catch bank

a = .25(b + c)

the amount in us bank, plus 7/4 bank, plus catch bank equals 2125

a + b + c = 2125