algebra

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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 -

    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 -

    The simple interest paid on a loan after 6 months was $306. The annual interest rate was 8%. Find the principal.

  • algebra -

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

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