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Answer:
On a first account the Lucas earns 3.6 percent interest it means on a $1000 Lucas earns $36 interest in a year.
[tex]\[\left( \frac{36}{1000} \right)=\frac{9}{250}\][/tex]
On second account the Lucas earns 2.1 percent interest it means on $1000 Lucas earns $21 interest in a year
[tex]\[\left( \frac{21}{1000} \right)\][/tex]
Step-by-step explanation:
• Simple interest is calculated with the following formula: S.I. = P × R × T, where P = Principal, R = Rate of Interest in % per annum, and T = The rate of interest is in percentage r% and is to be written as r/100.
• The total principal amount invested by Lucas is $250,000 in both the accounts.
• To find the investment in each account by Lucas . we have found the principal using the rate percent .
• On a first account the found principal is $250 and on the second account the found principal is $1000. Therefore the total principal is
[tex]& (250+1000)\to 250,000 \\ & 1250\to 250,000 \\ & 1\to 200 \\[/tex]
Therefore actual principal of first account is :
[tex]& 1\to 200 \\ & 250\to \frac{250(200)}{1} \\ \[=50,000\][/tex]
The actual principal of second account is :
[tex]& 1\to 200 \\ & 1000\to 200(1000)/1 \\ & =20,0000 \\[/tex]
• Hence in a first account Lucas invested [tex]\[\$=50,000\][/tex] and in a second account Lucas invested [tex]\[\$20,0000\][/tex]
• Learn More about Simple Interest here:
https://brainly.com/question/20014745
$192,400 was deposited in the account that earns 2.1% interest and $57,600 was deposited in the account that earns 3.6% interest
Interest earned in the account = $256,114 - $250,000 = $6114
This question would be solved using simultaneous equations
Two equations can be derived from the question
a + b = 250,000 equation 1
0.036a + 0.021b = $6,114 equation 2
Where :
a = amount deposited in the account that earns 3.6% in interest.
b = amount deposited in the account that earns 2.1% in interest.
Multiply equation 1 by 0.036
0.036a + 0.036b = 9000 equation 3
Subtract equation 2 from 3
2886 = 0.015b
Divide both sides of the equation by 0.015
b = 192,400
Substitute for b in equation 1
a + 192,400 = 250,000
a = 250,000 - 192,4000
a = 57,600
To learn more about simultaneous equations, please check: https://brainly.com/question/23589883?referrer=searchResults
