document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=941397>Question 941397</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Ralph Chase plans to sell a piece of property for $170,000. He wants the money to be paid off in two ways, a short-term note at 11% interest and a long-term note at 9% interest. Find the amount of each note if the total annual interest paid is $17,200.<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #573830 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=573830\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Ralph Chase plans to sell a piece of property for $170,000. He wants the money to be paid off in two ways, a short-term note at 11% interest and a long-term note at 9% interest. Find the amount of each note if the total annual interest paid is $17,200.<BR>\n" );
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document.write( "Equation:<BR>\n" );
document.write( "interest + interest = interest<BR>\n" );
document.write( "0.11x + 0.09(170,000-x) = 17,200<BR>\n" );
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document.write( "11x + 9*170000 - 9x = 1720000<BR>\n" );
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document.write( "2x = 190000<BR>\n" );
document.write( "x = 95000 (amt. paid off at 11%)<BR>\n" );
document.write( "170,000-x = 170,000-95000 = 75000 (amt. paid off at 9%)<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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