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James Invests $4,700 in Two Savings Accounts

Question 4

Multiple Choice

James invests $4,700 in two savings accounts. One earns interest at 7% per year, while the other earns 12% per year. The total interest earned from both accounts after one year is $409. How much was originally deposited in each account?


A) So, $3,100 was deposited in first account and $1,600 was deposited in second account.
B) So, $2,900 was deposited in first account and $1,600 was deposited in second account.
C) So, $1,600 was deposited in first account and $3,100 was deposited in second account.
D) So, $2,700 was deposited in first account and $2,000 was deposited in second account.
E) So, $2,600 was deposited in first account and $2,100 was deposited in second account.

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