document.write( "Question 452429: The Heaths are paying off two car loans. One loan charges 5% interest per year. The other loan charges 8% interest per year. They owe $2400 more on the 5% interest loan than they do on the other. Last year they paid a total of $710.20 interest. How much do they owe on each loan? \n" ); document.write( "
Algebra.Com's Answer #311025 by mananth(16946)\"\" \"About 
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rate------amount----interest
\n" ); document.write( "5% ------- x -------0.05x
\n" ); document.write( "8%---------y--------0.08y\r
\n" ); document.write( "\n" ); document.write( "x=y+2400
\n" ); document.write( "x-y=2400............1
\n" ); document.write( "0.05x+0.08y=710.20...2\r
\n" ); document.write( "\n" ); document.write( "x-y=2400 .............1
\n" ); document.write( "0.05x+0.08y=710.2.............2
\n" ); document.write( "Eliminate y
\n" ); document.write( "multiply (1)by 0.08
\n" ); document.write( "Multiply (2) by 1
\n" ); document.write( "0.08x-0.08y=192
\n" ); document.write( "0.05x+0.08y=710.20
\n" ); document.write( "Add the two equations
\n" ); document.write( "0.13 x = 902.2
\n" ); document.write( "/0.13
\n" ); document.write( "x= 6,940.00
\n" ); document.write( "plug value of x in (1)
\n" ); document.write( "x-y=2400
\n" ); document.write( "6940-y=2400
\n" ); document.write( "-y=2400-6940
\n" ); document.write( "-y=-4540
\n" ); document.write( "y=4540.00
\n" ); document.write( "m.ananth@hotmail.ca
\n" ); document.write( " \n" ); document.write( "
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