Damien wants to deposit $1200 into savings accounts at three different banks: bank of chance, merchant bank, and utopian financing. he will deposit three times as much into merchant bank as bank of chance because they offer a higher interest rate. he also expects the utopian financing deposit to be only 20% of the total of the other two deposits. how much will damien deposit into the utopian financing savings account? $240 $250 $200 $750 . if you explain how you got the answer i will give you a medal

Damien will deposit $200 into the Utopian Financing savings account.

Step-by-step explanation:

3X (Merchant Bank) + 1X (Bank of Chance) + 02 x 4X (Utopian Financing) = $1,200

3X + 1X + (0.2 x 4X) = 1,200

3X + 1X + 0.8X = 1,200

4.8X = 1,200

X = 1200 / 4.8

X = 250

So, as the deposit in Bank of Chance will be of $250, and the deposit in Merchant Bank will be of $750 (three times the amount deposited at the Bank of Chance), both combined will be worth $1,000. As the deposit in Utopian Financing will be just the 20% of the other two deposits, it will be worth $200.

Damien will deposit $200 into the Utopian Financing savings account.

about 0.75 hours

step-by-step explanation: