Posted by Emmett on .
A total of $6200 is deposited into two simple interest accounts. On one account the annual simple interest rate is 2%, and on the second account the annual simple interest rate is 4%. The amount of interest earned for 1 year was $148. How much was invested in each account?

algebra 
drwls,
Let x be the amount invested at 2% interest and y be the amount invested at 4% interest
x + y = 6200
0.02x + 0.04y = 148
Solve that pair of equations.
0.02x + 0.04(6200 x) = 148
0.02x + 248 = 148
0.02x = 100
x = 5000.
y = 1200 
algebra 
lulu,
The simple interest paid on a loan after 6 months was $306. The annual interest rate was 8%. Find the principal.

algebra 
jaden,
can't figure it out yet let me know how it goes