Question

Ramon invested a total $9,700 into two accounts, account 1 earns 6% simple interest and account 2 earns 4% simple interest. After one year, the total interest earned from both accounts was $466. Let X be the amount you invested in account 1 and y be the amount invested in account 2

Answer 1

x+y= 9700 & 0.06x + 0.04y=466

Explanation:

let X & Y be each account. Together, they are $9,700.

So, x+y=9700

thus, account 1 (x) earns 6 %. which converted to decimal is 0.06

account 2 (y) earns 4 % which converted is 0.04

It also said that both accounts were $466, after 1 year.

0.06x+0.04y=466

Answer 2

In the account that paid 3% Ramon put $800

In the account that paid 6% Ramon put $1,600

Explanation: