You've invested $30,000

Question

You've invested a total of $30,000 at 3% and 4 1/2% simple interest. During one year, the two acco earned $1200. How much did you invest in each account?

Answer 1

.03(30000-x) + .045x = 1200

.045x - .03x = 1200 - .03(30,000)

.015x = 1200 - 900= 300

x = 300/.015 = 300,000/15=

= $20,000 invested at 3%

and $10,000 invested at 4.5%