document.write( "Question 910026: Two bank loans, one for $5000 and the other for $3000, cost a total of $550 in interest for one year. The $5000 loan has an interest rate of 3% lower than the interest rate for the $3000 loan. Find the interest rate for each loan. \r
\n" ); document.write( "\n" ); document.write( "Here's what I have so far but when I check my solution it doesn't work out.
\n" ); document.write( "x(3000)+ x(5000-0.03)=550
\n" ); document.write( "3000x + 5000x - 0.03x=550
\n" ); document.write( "7999.97x = 550
\n" ); document.write( "x=0.0687502578 \r
\n" ); document.write( "\n" ); document.write( "Not sure what I am doing wrong \n" ); document.write( "
Algebra.Com's Answer #552206 by richwmiller(17219)\"\" \"About 
You can put this solution on YOUR website!
We have both amts invested 5000 and 3000
\n" ); document.write( "we know the total interest earned 550
\n" ); document.write( "We know the difference in rates is 3.0%
\n" ); document.write( "x*5000-y*3000=550
\n" ); document.write( "x=y-0.03
\n" ); document.write( "substitute for x
\n" ); document.write( "(y-0.03)*5000-y*3000=550
\n" ); document.write( "y*5000-0.03*5000-y*3000=550
\n" ); document.write( "y*2000-150.0=550
\n" ); document.write( "y*2000=150.0+550
\n" ); document.write( "y*2000=700.0
\n" ); document.write( "y=0.35
\n" ); document.write( "y=35.0%
\n" ); document.write( "x=0.35-0.03
\n" ); document.write( "x=0.32
\n" ); document.write( "x=32.0%
\n" ); document.write( "check
\n" ); document.write( "x*5000-y*3000=550
\n" ); document.write( "0.32*5000-0.35*3000=550
\n" ); document.write( "1600.0-1050.0=550
\n" ); document.write( "550.0=550
\n" ); document.write( " \n" ); document.write( "
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