Let x represents the amount money deposited in one account and y represents the amount of money deposited in other account.
Given : Murray’s father deposited $6,000 of his savings into two accounts.
i.e. x+y=6,000 (1)
One account earns 1.5 percent interest, and the other account earns 2.5 percent interest.
We know that Interest = Deposited amount x Interest x Time
Interest earned by account 1 = 0.015x
Interest earned by account 2 =0.025y
At the end the year, the interest in the account that earned 2.5 percent was $110.00 more than the other account.
i.e.Interest earned by account 2 - Interest earned by account 1 = $110.00
i.e. 0.025x-0.015y=110 (2)
From (1) and (2) , the system represents the amounts of money, x and y, that was put into each account :-
