Investment interest

Question

Todd invests $3000 in two different accounts. The first account paid 9 %, the second account paid 12 % in interest. At the end of the first year he had earned $330 in interest. How much was in each account?

$  at 9 %

$  at 12 %

Answer 1

If this is a simple interest problem and x = the amount in the 9% account and 3000-x is the amount in the 12% account, then

.09x + .12(3000-x) = 330

You find that

x = $1000

3000 - x = $2000