SOLUTION: I need the system of equations in two variables The total of two loans is $321,929 The interest rate for one loan is 1.0% the other loan was at 8.8% At the end of the year a combi

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: I need the system of equations in two variables The total of two loans is $321,929 The interest rate for one loan is 1.0% the other loan was at 8.8% At the end of the year a combi      Log On


   

Question 354718: I need the system of equations in two variables The total of two loans is $321,929 The interest rate for one loan is 1.0% the other loan was at 8.8% At the end of the year a combined interest payment of $25,677.83 was made. What are the amounts of each loan
Answer by scott8148(6628) About Me  (Show Source):
You can put this solution on YOUR website!
"The total of two loans is $321,929" ___ x + y = 321929

"combined interest payment of $25,677.83" ___ (1.0%)(x) + (8.8%)(y) = 25677.83