SOLUTION: A business has two loans totaling $85,000. One loan has a rate of 6% and the other has a rate of 4.5%. This year the business expects to pay $5,025 in interest on the two loans. Ho
Algebra.Com
Question 1136651: A business has two loans totaling $85,000. One loan has a rate of 6% and the other has a rate of 4.5%. This year the business expects to pay $5,025 in interest on the two loans. How much is each loan?
Answer by ikleyn(52878) (Show Source): You can put this solution on YOUR website!
.
Right now I solved for you a TWIN problem under this link
https://www.algebra.com/algebra/college/linear/Linear_Algebra.faq.question.1136652.html
https://www.algebra.com/algebra/college/linear/Linear_Algebra.faq.question.1136652.html
It is your TEMPLATE.
Read it attentively, and then solve the current problem by the same method.
Happy solving !
Let me know if you need additional help !
RELATED QUESTIONS
Sarah has two student loans totaling $12,000. One of loans was @6% simple interest and... (answered by stanbon)
Tom has two loans totaling 18000.00 one loan has a interest of 4.25% the other loan is at (answered by mananth)
Two bank loans, one for $5000 and the other for $3000, cost a toatl of$550 in interest... (answered by mananth)
A student has two loans totaled $45,000. The interest of one loan is 5.1% and the... (answered by mananth)
a student has two loans totaled 45,000. the interset on one loan is 5.1% and the interest (answered by rwm)
A student takes out two loans, totaling $4000. One loan is at 6% interest, the other at... (answered by mananth)
A company obtained two loans totaling $30,000. The interest rate for one loan was 16... (answered by mananth)
Two bank loans, one for $5000 and the other for $3000, cost a total of $550 in interest... (answered by richwmiller)
1. Wen Seng operates an ice cream shop. He is trying to decide whether to expand his... (answered by ikleyn)