Question

Please help ASAP!

Jon invested a total of $1500 in two

simple interest accounts. Account A

earns 4% interest and Account B earns

6%. Jon earned a total of $80 interest

after one year. How much did Jon invest

in each account?

A $500 in A, $1000 in B

B $750 in A, $750 in B

C $1000 in A, $500 in B

D $1400 in A, $100 in B

Answer 1

Answer = A

Explanation:

interest is calculated as a percent of the principal. For example, if you borrowed $100 from a friend and agree to repay it with 5% interest, then the amount of interest you would pay would just be 5% of 100: $100(0.05) = $5. Meaning that you would have to multiply the items in order to get A.