Brandon P. answered • 06/06/19

Tutor specializing in High School Math and Engineering

Alexia, it doesn't specify how the $1500 was split so that is what you are trying to solve. Use the following equations (5% = 0.05; 4% = 0.04):

A + B = 1500

0.05A + 0.04B = 69.50

**STEP 1: Multiply the second equation by -20 on both sides which will give you a -A value**

A + B = 1500

(-20)0.05A + 0.04B = 69.50 (-20)

A + B = 1500

-A - 0.8B = -1390

**STEP 2: Add top equation to bottom equation removing 'A'**

A + B = 1500

-A - 0.8B = -1390

0.2B = 110

**STEP 3: Solve for B by dividing 0.2 on both sides**

__0.2B = 110__

0.2

B = 550; You deposited $550 in the 4% savings account.

**STEP 4: Plug in 550 for 'B' in the first equation to solve for 'A'**

A + B = 1500

A + 550 = 1500

A = 950; You deposited $950 in the 5% savings account.

**STEP 5: Verify that A=950 and B=550 works for the second $ equation**

0.05A + 0.04B = 69.50

0.05(950) + 0.04(550) = 69.50

47.5 + 22 = 69.50

69.50 = 69.50

The answer is: you deposited $550 in the 4% savings account.

Let me know if you have additional questions.

-TutorB