SOLUTION: susans two loans totaled $12,000. one of her loans was at 6% simple interestand the other at 9%. After one year, Susan owed $855 in iterest. What was the amount of each loan?

Question 122993:
susans two loans totaled $12,000. one of her loans was at 6% simple interestand the other at 9%. After one year, Susan owed $855 in iterest. What was the amount of each loan?
Thia is what I have so far 0.06X + 0.09Y= 855
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
2 UNKNOWNS IN 1 EQUATION IS NOT SOLVEABLE.
WHAT YOU NEED IS:
.09X+.06(12,000-X)=855
.09X+720-.06X=855
.03X=855-720
.03X=135
X=135/.03
X=$4,500 AMOUNT INVESTED @ 9%.
12,000-4500=&7,500 AMOUNT INVESTED @ 6%.
PROOF
.09*4,500+.06*7,500=855
405+450=855
855=855

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