John invests a total of $4,500 in two accounts paying 10% and 3% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $205.00.
Call the amount in one acct [ doesn't matter which one], x
Call the amount in the other acct 4500 - x and we have
.10x + .03(4500 - x) = 205 simplify
.10x + 135 - .03.x = 205
.07x + 135 = 205 subtract 135 from both sides
.07x = 70 divide boh sides by .07
x = $1000 this was the amount in the 10% account
So 4500 - 1000 = $3500 = the amount in the 3% acct