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Question 321649: Dorothy bought two computers, one desktop and one laptop. Before finance charges, the laptop cost $1000 more than the desktop. Dorothy 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 9.5% per year. The total finance charges for one year were $638.75. How much did the desktop computer cost before finance charges?
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! Let D = cost of the desktop
Let L = cost of the laptop
L = D + 1000
Total interest rate paid for one year was 638.75
That interest rate was composed of D * .05 + L * .095
Formula is .05*D + .095*L = 638.75
Since L = D + 1000, this formula becomes:
.05*D + .095*(D + 1000) = 638.75
Simplify this to get:
.05*D + .095*D + .095*1000 = 638.75
Combine like terms and simplify further to get:
.145*D + 95 = 638.75
Subtract 9 from both sides of this equation to get:
.145*D = 543.75.
Divide both sides by .145 to get:
D = 3750
L = D + 1000 = 4750
.05 * D + .95 * L = 638.75
.05 * 3750 + .095 * 4750 = 638.75 confirming the values are good.
Your answer is that the price of the desktop computer before finance charges is $3750.00
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