Question 519613
Let x = the amount deposited in bank A @ 6% per annum, then the remainder of the $2,500, or (2500-x) is deposited in bank B @ 6.5% per annum.
The interest earned on these two deposits is equal.
The earned interests can be expressed as:
Bank A: 0.06x
Bank B: (0.065)(2500-x)
Set these two amounts equal:
0.06x = (0.065)(2500-x) Simplify.
0.06x = 162.5-0.065x Add 0.065x to both sides.
0.125x = 162.5 Divide by 0.125
x = $1300 and 2500-x = $1200
$1,300.00 was deposited in bank A and $1,200.00 was deposited in bank B.