MATH HELP NEEDED !

Question

Seth invests $4800 in two different accounts. The first account paid 2 %, the second account paid 5 % in interest. At the end of the first year he had earned $207 in interest. How much was in each account?

$  at 2 %

$  at 5 %

Answer 1

If all the $4800 were invested at 5% Seth would have earned

$4800 x 5% = $4800 x 0.05 = $240

But as Seth only earned $207,

$240 - $207 = $33 are missing

$33 are missing because some of the money were invested at 2% interest instead of 5% interest, difference being 3% of the principal.

The missing 3% account for the missing $33, therefore the principal must have been $33 / 0.03 = $1100 invested at 2%.

If out of $4800 only $1100 were invested at 2% interest, then there were $4800 - $1100 = $3700 invested at 5% interest