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anonymous
 5 years ago
A residential building contractor borrowed $39,000 to complete a new home. Some of the money was borrowed at 5%, some at 4%, and some at 6%. How much was borrowed at each rate if the annual interest owed was $1800 and the amount borrowed at 4% is four times more than the amount borrowed at 6%?
A. $12,000 at 5%; $22,000 at 4%; $5000 at 6%
B. $14,000 at 5%; $20,000 at 4%; $5000 at 6%
C. $12,000 at 5%; $21,000 at 4%; $6000 at 6%
D. $13,000 at 5%; $18,000 at 4%; $7000 at 6%
E. $11,000 at 5%; $24,000 at 4%; $6000 at 6%
anonymous
 5 years ago
A residential building contractor borrowed $39,000 to complete a new home. Some of the money was borrowed at 5%, some at 4%, and some at 6%. How much was borrowed at each rate if the annual interest owed was $1800 and the amount borrowed at 4% is four times more than the amount borrowed at 6%? A. $12,000 at 5%; $22,000 at 4%; $5000 at 6% B. $14,000 at 5%; $20,000 at 4%; $5000 at 6% C. $12,000 at 5%; $21,000 at 4%; $6000 at 6% D. $13,000 at 5%; $18,000 at 4%; $7000 at 6% E. $11,000 at 5%; $24,000 at 4%; $6000 at 6%

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anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Any ideas on how you want to attempt this problem? There are many many ways.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Whatever way is easiest....

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I figured setting up a formula and then plugging in the different answers till I find the right one.. so in that case I guess I'm not sure what my equation/formula would be?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Ok, well let's look at this.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0The easiest method by far in multiple choice questions is elimination.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Four percent of $39,000 is?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Oh sorry, I didn't not read the question carefully enough.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Let's do some elimination: can you tell me which letters do not fit this qualifier? " the amount borrowed at 4% is four times more than the amount borrowed at 6%"

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0uhm... I'm not sure I understand your question....

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Oh, no problem. Let's look at this: $12,000 at 5%; $22,000 at 4%; $5000 at 6% For this answer, is the 4% value 4x the amount of the 6% value?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Exactly, so right away A is wrong. Can you tell me which other answers are wrong immediately?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Ohhh ok so I could use this to test my given answers to find the right one! ding dong my light bulb just went on wow I feel dumb. lol

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Haha, no worries. So which ones are wrong?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Just from that simple test, which ones are wrong?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ok so my final answers are between b and e

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Correct! Good! A, C, and D are all wrong. The 4% values are not 4 times greater than their 6% values. We've eliminated over half the choices!

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0awesome possum...Now where do I go from there knowing that I have 2 choices of answers

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Haha, now we get to look at this: "borrowed $39,000 to complete a new home."

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Can you add the loan values in B and E and tell me if they add up to 39,000?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0just kidding the answer is b

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0sorry Idk why that problem was so hard to wrap my brains around lol thanks for helping me though

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Haha, yes! And look, we didn't have to do any hard math at all! You got very lucky xD

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Anytime, it's no problem. Would you like to do the math?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0This was more test taking strategy.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ha ha true well all the other questions I was working on were hard and I got to this one and was like ok back to basics.. uh oh lol

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0It's ok i have it down on my practice paper thanks though!
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