document.write( "Question 615996: To buy both a new car and a new house, Tina sought two loans totaling $23,067. The simple interest rate on the first loan was 6.8%, while the simple interest rate on the second loan was 7.7%. At the end of the first year, Tina paid a combined interest payment of $1765.70. What were the amounts of the two loans? \n" ); document.write( "

Algebra.Com's Answer #387437 by stanbon(75887) $\"\"$ $\"About$

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To buy both a new car and a new house, Tina sought two loans totaling $23,067. The simple interest rate on the first loan was 6.8%, while the simple interest rate on the second loan was 7.7%. At the end of the first year, Tina paid a combined interest payment of $1765.70. What were the amounts of the two loans?
\n" ); document.write( "---------
\n" ); document.write( "Equation:
\n" ); document.write( "int + int = 1765.70
\n" ); document.write( "----
\n" ); document.write( "0.068x + 0.077(23067-x) = 1765.70
\n" ); document.write( "-----
\n" ); document.write( "Multiply thru by 1000
\n" ); document.write( "68x + 77*23067 - 77x = 1765700
\n" ); document.write( "-9x = -10459
\n" ); document.write( "x = $1162.11(amt. invested at 6.8%)
\n" ); document.write( "---------------------
\n" ); document.write( "23,067-x = $21904.89 (amt. invested 7.7%)
\n" ); document.write( "===============================
\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H.
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