Michele earned a total of $693 in simple interest form two separate accounts. In an account earning 6% interest, Michelle invested $1,200 more than four times the amount she invested in an account earning 3%. How much did she invest in each account?

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Mathematics

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10 May, 01:30

Michele earned a total of $693 in simple interest form two separate accounts. In an account earning 6% interest, Michelle invested $1,200 more than four times the amount she invested in an account earning 3%. How much did she invest in each account?

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Ezekiel Bradshaw · Answer 1

T = 4s + 1200

0.06t + 0.03s = 693

0.06 (4s+1200) + 0.03s = 693

0.24s + 0.03s + 72 = 693

0.27s = 621

s = 2300

t = 10400

s is the amount invested at 3%

and t is the amount invested at 6%