Well, Peter must be quite the financial acrobat to balance two savings accounts! Let's solve this money riddle together.
Let's assume Peter invested $x in the 9% account (because, as we all know, numbers are the building blocks of wealth!). Now, since he has $200 more in the 11% account, he must have invested $x + $200 in that account.
To calculate the interest, we can multiply the amount invested in each account by their respective interest rates and add them together, which should equal $68 in total. So our equation looks like this:
0.09x + 0.11(x + 200) = 68
Simplifying the equation a bit, we get:
0.09x + 0.11x + 22 = 68
Now let's do some mathematical tricks to solve it.
0.20x + 22 = 68
Subtracting 22 from both sides, we have:
0.20x = 46
Now comes the grand finale! Divide both sides by 0.20:
x = 230
So, Peter invested $230 in the 9% account. Since he had $200 more in the 11% account, that means he invested $230 + $200 = $430 in the 11% account.
Voila! Peter is now the ringmaster of his savings accounts, with $230 invested in the 9% account and $430 invested in the 11% account.