Answer :
Final answer:
To find out how much Susie originally invested at the Pretty Penny Bank, set up two equations using the compound interest formula and solve for x.
Explanation:
To solve this problem, we can set up two equations using the compound interest formula. Let's say Susie initially invests $x at the Pretty Penny Bank and $y at the Five and Dime Bank. After two years, the total amount she has is given as $z.
The compound interest formula is A = P(1 + r/n)^(nt), where A is the total amount after time t, P is the principal amount, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the number of years.
Using this formula for the two banks, we get the equations:
x(1 + r1/100)^2 + y(1 + r2/100)^2 = z
From here, you can substitute the given values and solve for x to find out how much Susie originally invested at the Pretty Penny Bank.
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