Respuesta :
Answer: $6000 was deposited in the account earning 5% interest.
$1500 deposited in the account earning 7% interest.
Step-by-step explanation:
Let x represent the amount which he deposited in the account earning 5% interest.
Let y represent the amount which he deposited in the account earning 7% interest.
A total of $7500 is deposited into two simple interest accounts. In one account, the annual simple interest rate is 5%, and in the other account, the annual simple interest rate is 7%. . This means that
x + y = 7500
The formula for determining simple interest is expressed as
I = PRT/100
Considering the account earning 5% interest,
P = $x
T = 1 year
R = 5℅
I = (x × 5 × 1)/100 = 0.05x
Considering the account earning 7% interest,
P = $y
T = 1 year
R = 7℅
I = (y × 7 × 1)/100 = 0.07y
The amount of interest earned in 1 year was $405. it means that
0.05x + 0.07y = 405 - - - - - - - - - -1
Substituting x = 7500 - y into equation 1, it becomes
0.05(7500 - y) + 0.07y = 405
375 - 0.05y + 0.07y = 405
- 0.05y + 0.07y = 405 - 375
0.02y = 30
y = 30/0.02
y = $1500
x = 7500 - y = 7500 - 1500
x = $6000
