document.write( "Question 977195: A student had a car loan charging 0.75% interest per month and a tuition loan charging 0.5% interest per month. How much did he owe on each account if he paid a total of $95.50 monthly interest on a total debt of $14,200? \r
\n" ); document.write( "\n" ); document.write( "I have the solution but not sure how to set up the equations to find that solution. Thank you! \n" ); document.write( "
Algebra.Com's Answer #598704 by richwmiller(17219)\"\" \"About 
You can put this solution on YOUR website!
Total amount of debt: $14200
\n" ); document.write( "x+y=14200,
\n" ); document.write( "Total monthly interest charged for the two accounts is: $95.50
\n" ); document.write( "0.005*x+0.0075*y=95.5
\n" ); document.write( "x=14200-y
\n" ); document.write( "Substitute for x
\n" ); document.write( "0.005*(14200-y)+0.0075*y=95.5
\n" ); document.write( "Multiply out
\n" ); document.write( "71.0-0.005*y+0.0075*y=95.5
\n" ); document.write( "Combine like terms.
\n" ); document.write( "0.0025*y=24.5
\n" ); document.write( "Isolate y
\n" ); document.write( "y=$ 9800.00 at 0.75% charged $73.50 interest
\n" ); document.write( "x=14200-y
\n" ); document.write( "Calculate x
\n" ); document.write( "x=$ 4400.00 at 0.5% charged $22.00 interest
\n" ); document.write( "Check
\n" ); document.write( "0.005*4400+0.0075*9800=95.5
\n" ); document.write( "22.0+73.5=95.5
\n" ); document.write( "95.5=95.5\r
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "
\n" );