SOLUTION: Sarah’s two student loans totaled
$12,000. One of her loans was at 6% simple interest
and the other at 9%. After one year, Sarah owed $855
in interest. What was the amount of ea
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-> SOLUTION: Sarah’s two student loans totaled
$12,000. One of her loans was at 6% simple interest
and the other at 9%. After one year, Sarah owed $855
in interest. What was the amount of ea
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Question 397996: Sarah’s two student loans totaled
$12,000. One of her loans was at 6% simple interest
and the other at 9%. After one year, Sarah owed $855
in interest. What was the amount of each loan?
I got x+y=12,00 but what is the next step???? Found 2 solutions by josmiceli, popoff602:Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! If the 6% loan was for dollars, and
the 9% loan was for dollars, then
(1)
(2) (after 1 year)
(2)
Multiply both sides of (1) by , then
subtract (1) from (2)
(2)
(1)
and, from (1),
The 6% loan was for $7500, and
the 9% loan was for $4500
You can put this solution on YOUR website! 1) x+%2B+y+=+12000
(2) .06x+%2B+.09y+=+855 (after 1 year)
(2) 6x+%2B+9y+=+85500
Multiply both sides of (1) by 6, then
subtract (1) from (2)
(2) 6x+%2B+9y+=+85500
(1) -6x+-+6y+=+72000
3y+=+13500
y+=+4500
and, from (1),
x+%2B+4500+=+12000
x+=+7500
The 6% loan was for $7500, and
the 9% loan was for $4500
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