The simple interest is given by:
[tex]SI=Prt[/tex]where P is the principal (the amount we invest in the account), r is the interest rate and t is the time of investment.
Let P be the interest Larry made in the 2% account, the simple interest in this case is given by:
[tex]0.02P[/tex]Now for the second account we would have an envestment of (17000-P), then the simple interest have to be:
[tex]0.05(17000-P)[/tex]and we know that both investments have to be equal to 610, then we have:
[tex]\begin{gathered} 0.02P+0.05(17000-P)=610 \\ 0.02P+850-0.05P=610 \\ -0.03P=610-850 \\ -0.03P=-240 \\ P=\frac{-240}{-0.03} \\ P=8000 \end{gathered}[/tex]Therefore Larry invested $8000 in the 2% account and $9000 in the 5% account.
