Question

Ernie deposited $4000 between two savings accounts. One account paid 4% simple interest and the other paid 2%. At the end of one year, Ernie had earned $140 in interest for both accounts. How much money did Ernie deposit in the account that paid 4% interest?

Answer 1

Answer:

X = 3000 $

Step-by-step explanation:

money Ernie deposit in the account that paid 4% interest is X

then :

0.04 X + 0.02(4000-X) = 140

0.04 X+ 80 - 0.02 X =140

0.02 X = 60

X = 3000 $