Tuesday

July 22, 2014

July 22, 2014

Posted by **Julia** on Saturday, February 14, 2009 at 5:06pm.

- Algebra -
**Damon**, Saturday, February 14, 2009 at 5:16pmassuming no compunding of interest:

borrow x at .15

borrow (x+800) at .12

then

.15 x + .12 (x+800) = 420

- Algebra -
**Reiny**, Saturday, February 14, 2009 at 5:17pmlet his loan from the bank be $x

let the loan from the credit union be $(x+800)

.15x + .12(x+800) = 420

solve for x, let me know what you got.

- Algebra -
**Julia**, Saturday, February 14, 2009 at 5:21pmThere has to be two equations. I got 1,200 for x...

- Algebra -
**Damon**, Saturday, February 14, 2009 at 5:39pm1200 and 2000 are the correct amounts.

- Algebra -
**Damon**, Saturday, February 14, 2009 at 5:44pmIf you really, really, want to make two equations out of this:

x = amount at .15

y = amount at .12

then

.15 x + .12 y = 420

y = x + 800

then substitute equation 2 into equation 1

.15 x + .12(x+800) = 420

which is where we started.

**Related Questions**

math - Jessica has a credit card from party bank and another from artic bank. ...

Math - A customer purchased a car and financed $16,000. The customer borrowed ...

marketing - When a local bank in Kansas City makes loans to its small business ...

business math - tony towing borrows of $12,250 at 9.5% interest for 320 days if ...

Finance - A bank offers your firm a revolving credit arrangement for up to $85 ...

math - A chartered bank is raising the interest rate on its Visa credit card ...

math - OMG I CAN NOT get this !!!! Purchase price of article = $495 Down payment...

macroeconomics - 1 The most important reason for the slope of the aggregate ...

algebra - john borrowed $650 from credit union . interest rate is 7.9% , and ...

algebra - an individual has two low interest loans, one at 4% interest and the ...