document.write( "Question 519963: ralph chase plans to sell a piece of property for $180,000. He wants the money to be paid off in two ways- a short term note at 9% interest and a long term at 7% interest. find the amount of each note if the total annual interest paid is $14,600. \n" ); document.write( "

Algebra.Com's Answer #345896 by Maths68(1474) $\"\"$ $\"About$

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\n" ); document.write( "\n" ); document.write( "Total Amount = $180,000
\n" ); document.write( "Total Interest = $14,600
\n" ); document.write( "Amount to be paid off at 9% = x
\n" ); document.write( "Amount to be paid off at 7% = 180,000 - x\r
\n" ); document.write( "\n" ); document.write( "Amount to be paid off at 9% * 9% + Amount to be paid off at 7% * 7% = Total Interest
\n" ); document.write( "x*9/100 + (180000-x)*7/100=14600
\n" ); document.write( "x*0.09+(180000-x)*0.07=14600
\n" ); document.write( "0.09x+12600-0.07x=14600
\n" ); document.write( "0.02x=14600-12600
\n" ); document.write( "0.02x=2000
\n" ); document.write( "x=2000/0.02
\n" ); document.write( "x=100,000\r
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\n" ); document.write( "\n" ); document.write( "Amount to be paid off at 9% = x = $100,000
\n" ); document.write( "Amount to be paid off at 7% = 180,000 - 100,000 = $80,000\r
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\n" ); document.write( "\n" ); document.write( "Check
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\n" ); document.write( "100000 * 0.09 + 80000 * 0.07 = 14600
\n" ); document.write( "9000+5600=14600
\n" ); document.write( "14600=14600 \n" ); document.write( "

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