Me
$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. how much money was invested at 3%?

$2,000
$3,000
$4,000

$4000 is invested in the account which earning 3% rate .

Step-by-step explanation:

Formula

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

Simplfy the above equation

22000 = 3x + 30000 - 5x

30000 - 22000 = 5x - 3x

8000 = 2x

x = $4000

Therefore $4000 is invested in the account which earning 3% rate .