SOLUTION: Solve.
Sarah's two loans totaled $12,000. One of her loans was at 6% simple interest and the other at 9%. After one year she owed $855 in interest. What was the amount of each l
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Question 129170This question is from textbook
: Solve.
Sarah's two loans totaled $12,000. One of her loans was at 6% simple interest and the other at 9%. After one year she owed $855 in interest. What was the amount of each loan.
This question is from textbook
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
.09X+.06(12,000-X)=855
.09X+720-.06X=855
.03X=855-720
.03X=135
X=135/.03
X=$4,500 IS THE AMOUNT OF THE LOAN @ 9%
12,000-4,500=$7,500 AMOUNT OF THE LOAN @ 6%.
PROOF
.09*4,500+.06*7,500=855
405+450=855
855=855
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