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August 22, 2014

August 22, 2014

Posted by **P.Smith** on Saturday, February 6, 2010 at 5:05pm.

A student took out two loans totaling $10,000 to help pay for college expenses. One loan was at 8% simple interest, and the other was at 10%. After one year, the student owed $840 in interest. Find the amount of the loan at 10%.

- math -
**Damon**, Saturday, February 6, 2010 at 5:22pmx at .1 and y at .08

y = 10,000-x

.1x + .08y = 840

so substitute

.1x + .08 (10,000-x) = 840

- math -
**Reiny**, Saturday, February 6, 2010 at 5:23pmx + y = 10000

.1x + .08y = 840

suggestion:

multiply the second by 100

then the first by 8 and subtract them

- math -
**P.Smith**, Saturday, February 6, 2010 at 9:34pmThanks!! You are all the best.

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