SOLUTION: Scott invested a total of $6300 at two separate banks. One bank pays simple interest of 12% per year while the other pays simple interest at a rate of 9% per year. If Scott earne

Question 1056987: Scott invested a total of $6300 at two separate banks. One bank pays simple interest of 12% per year while the other pays simple interest at a rate of 9% per year. If Scott earned $660.00 in interest during a single year, how much did he have on deposit in each bank?
Answer by ikleyn(52776) (Show Source): You can put this solution on YOUR website!
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Scott invested a total of $6300 at two separate banks. One bank pays simple interest of 12% per year while the other pays
simple interest at a rate of 9% per year. If Scott earned $660.00 in interest during a single year,
how much did he have on deposit in each bank?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Let x = how much Scott invested in the first bank.
Then his investment to the second bank is (6300-x).

The equation is

0.12x + 0.09*(6300-x) = 660.

Simplify and solve for x.

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