Formulate a system of equations for the situation below and solve. Michael Perez deposited a total of $2000 with two savings institutions. Bank A pays interest at the rate of 6%/year, whereas Bank B pays interest at the rate of 8%/year. If Michael earned a total of $144 in interest during a single year, how much did he deposit in each institution? Bank A $ Bank B $

Answer:DA= $800 and DB= $1200Step-by-step explanation:Equation I (Interest of Bank A):IA= 0.06/year*DA  *1year (DA= Deposit in Bank A)IA= 0.06*DAEquation II (Interest of Bank B):IB= 0.08/year*DB *1year  (DB= Deposit in Bank B)IB= 0.08*DBTotal interest:TI=IA+IB=$144Total deposit:TD= DA +DB= $2000Adding equations I and II:IA+IB = 0.06DA +0.08DB$144= 0.06DA+0.08DB(DB= $2000-DA)When replacing DB:$144= 0.06DA + 0.08($2000-DA)Applying distributive property:$144= 0.06DA + (0.08*$2000) -0.08DA$144= -0.02DA + $1600.02DA= $160-$1440.02DA = $16DA= $16/0.02DA= $800DB= $2000-$800DB= $1200