document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=85800>Question 85800</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A customer purchased a care and financed $16,000.  The customer borrowed part of the money from a bank charging 10% annual interest and the rest from a credit union at 8% annual interest.  If the total interest for the year was $1390 how much borrowed from the bank and how much was borrowed from the credit uninon? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #61983 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=61983\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A customer purchased a car and financed $16,000.  The customer borrowed part of the money from a bank charging 10% annual interest and the rest from a credit union at 8% annual interest.  If the total interest for the year was $1390 how much borrowed from the bank and how much was borrowed from the credit uninon?<BR>\n" );
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document.write( "Let amount invested at 10% be \"x\"; Interest on that is 0.10x dollars<BR>\n" );
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document.write( "Amount invested at 8% is \"16000-x\"; Interest on that is 0.08(16000-x)=1280-0.08x dollars<BR>\n" );
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document.write( "EQUATION:<BR>\n" );
document.write( "interest + interest = $1390<BR>\n" );
document.write( "0.10x + 1280 - 0.08x = 1390<BR>\n" );
document.write( "0.02x = 110<BR>\n" );
document.write( "x= $5500.00 (amt invested at 10%)<BR>\n" );
document.write( "16000-x = 16000-5500 = $10500 (amt invested at 8%)<BR>\n" );
document.write( "=================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.  </SPAN>\n" );
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