Answer :
Answer:
$4000 is invested in the account which earning 3% rate .
Step-by-step explanation:
Formula
[tex]Simple\ interest = \frac{Principle\times Rate\times Time}{100}[/tex]
As given
$6,000 dollars is invested in two different accounts earning 3% and 5% interest.
At the end of one year, the two accounts earned $220 in interest.
Let us assume that the x amount is invested in the account which earning 3% interest .
Let us assume that the (6000 - x ) amount is invested in the account which earning 3% interest .
Thus the equation becomes
[tex]220 = \frac{x\times 3\times 1}{100} + \frac{(6000 - x)\times 5\times 1}{100}[/tex]
Simplfy the above equation
22000 = 3x + 30000 - 5x
30000 - 22000 = 5x - 3x
8000 = 2x
[tex]x = \frac{8000}{2}[/tex]
x = $4000
Therefore $4000 is invested in the account which earning 3% rate .
