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anonymous
 4 years ago
To buy both a new car and a new house, Tina sought two loans totaling $318,338. The simple interest rate on the first loan was 2.4%, while the simple interest rate on the second loan was 4.7%. At the end of the first year, Tina paid a combined interest payment of $14,761.81. What were the amounts of the two loans?
anonymous
 4 years ago
To buy both a new car and a new house, Tina sought two loans totaling $318,338. The simple interest rate on the first loan was 2.4%, while the simple interest rate on the second loan was 4.7%. At the end of the first year, Tina paid a combined interest payment of $14,761.81. What were the amounts of the two loans?

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anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0I started with x + y= 318,338 and 0.024x + 0.047 = 14,761.81 and now I my brain stopped

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0do I use elimination or substitution method? or does it matter? am I headed the right way?

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.0Try it this way: x dollars borrowed at 2.4% and the rest of the money (318338x) was borrowed at 4.7% Interest on the 2.4% money: .024x Interest on the 4.7% money: .047(318338x) Total interest for 1 year = .024x + .047(318338x)=14761.81

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0ahhhh ok I try thank you!

Hero
 4 years ago
Best ResponseYou've already chosen the best response.0you wrote: x + y= 318,338 and 0.024x + 0.047 = 14,761.81 but you forgot to add y to .047, so in actuality: x + y = 318, 338 .024x + .047y = 14,761.81

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0ok ty Hero, I am still stuck

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0I cannot figure out how to solve this

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0ok thank you I keep trying:)

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.0\[.024x +14961.886.047x=14761.81\] \[.023x=200.076\] \[.\]\[x=8698.96=\] 2.4% money

Hero
 4 years ago
Best ResponseYou've already chosen the best response.0I'm going to do it again on paper just to make sure my solution is correct

Hero
 4 years ago
Best ResponseYou've already chosen the best response.0I wrote down the equation wrong again

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.0You made a typo when you typed the total amount of interest. It is 14761.81 NOT 13761.81

Hero
 4 years ago
Best ResponseYou've already chosen the best response.0I know that Mertsj. I just said that. Repeating what I already stated doesn't help.

Hero
 4 years ago
Best ResponseYou've already chosen the best response.0Just forget about my solution.
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