document.write( "Question 729591: A customer purchased a car and financed $15,000. The customer borrowed part of the money from a bank charging 10% annual interest and the rest from a credit union at 9% annual interest. If the total interest fro the year was $1430, how much was borrowed from the credit union? \n" ); document.write( "

Algebra.Com's Answer #853130 by ikleyn(53427) $\"\"$ $\"About$

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\n" ); document.write( "A customer purchased a car and financed $15,000. The customer borrowed part of the money from a bank
\n" ); document.write( "charging 10% annual interest and the rest from a credit union at 9% annual interest.
\n" ); document.write( "If the total interest from the year was $1430, how much was borrowed from the credit union?
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document.write( "Let x be the amount borrowed from the credit union at 9% in dollars (the value under the problem's question).\r\n" );
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document.write( "Then the value borrowed from the bank at 10% is (15000-x) dollars.\r\n" );
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document.write( "Write an equation for the total annual interest\r\n" );
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document.write( "    0.09x + 0.1(15000-x) = 1430  dollars.    (1)\r\n" );
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document.write( "Simplify\r\n" );
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document.write( "    0.09x + 1500 - 0.1x = 1430,\r\n" );
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document.write( "    -0.09x - 0.1x = 1430 - 1500,\r\n" );
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document.write( "          -0.01x  =   -70,\r\n" );
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document.write( "               x  =   = 7000.\r\n" );
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document.write( "Thus, 7000 dollars were borrowed from the credit union.\r\n" );
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document.write( "ANSWER.  $7000 were borrowed from the credit union.\r\n" );
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document.write( "CHECK.  The total annual interest is   = 1430  dollars,   correct !\r\n" );
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