Tim invested some money into a 10% annual simple interest account. In a 16% account, he invested $4000 more than what he put in the 10% account. He earned a total of $2200 in interest from these investments after one year. How much was deposited into each account?
How do you solve a simple interest problem using two accounts, and use only one variable?
What are the equations used when solving simple interest problems?
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This video teaches how to solve, step by step, a simple interest problem that uses multiple accounts, using only one variable. A table is used to arrange all of the information to build an equation that is then solved.