Question

$2000 should be invested into checking with interest rate 3% and savings account with interest rate 5% so that the total interest will be $84. How much should be invested into each account?

Answer 1

$800 at 3%, $1,200 at 5%

Explanation:

`.03x - .05(2000 - x) = 84`

`100 - .02x = 84`

`.02x = 16`

`x = 800`

`2000 - x = 1200`