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Question 1159621: Ivan bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $200 less than the desktop. He paid for the computers using two different financing plans. For the desktop the interest rate was 5% per year, and for the laptop it was 7% per year. The total finance charges for one year were $250. How much did each computer cost before finance charges?
Answer by ankor@dixie-net.com(22740)   (Show Source):
You can put this solution on YOUR website! Ivan bought a desktop computer and a laptop computer.
Before finance charges, the laptop cost $200 less than the desktop.
He paid for the computers using two different financing plans.
For the desktop the interest rate was 5% per year, and for the laptop it was 7% per year.
The total finance charges for one year were $250.
How much did each computer cost before finance charges?
:
let d = the cost of the desktop
laptop is $200 less, therefore
(d-200) = the cost of the laptop
:
Interest equation
.05d + .07(d-200) = 250
.05d + .07d - 14 = 250
.12d = 250 + 14
.12d = 264
d = 264/.12
d = $2200 the cost of the desktop
and
2200 - 200 = $2000 is the cost of the laptop
:
:
Check this, find the actual int cost for each
.05 * 2200 = $110
.07 * 2000 = $140
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total int: $250
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