Question

Micah deposited $4000 between two savings account. One account earns 4% simple interest each year. The other account earns 2% simple interest. Last year Micah earned $140 interest on the accounts.

Answer 1

Explanation:

$3000 * 0.04 = $120

$100 * 0.02 = $20

total 2 accounts = $120 + $20 = $140

answer: $3000 was the originally deposited into the account that pays 4% interest.