Friday

October 24, 2014

October 24, 2014

Posted by **Kimberly** on Thursday, July 28, 2011 at 11:54pm.

- Intermediate Algebra -
**drwls**, Friday, July 29, 2011 at 2:13amLet the two loan amounts be X and Y.

X + Y = 78,825

0.002X + 0.05Y = 2817.23

Solve those two simultaneous equations.

Multiply both sides of the second equation by 20.

0.04x + Y = 56,344.60

0.96 X = 22,480.40

X = 23,417.08

Y = 55,407.92

**Answer this Question**

**Related Questions**

Algebra (HELP) - To buy both a new car and a new house, Tina sought two loans ...

algebra - To buy both a new car and a new house, Tina sought two loans totalling...

algebra - To buy both a new car and a new house, Tina sought two loans totalling...

Math - To buy both a new car and a new house, Tina sought two loans totalling $...

Algebra - This assignment is about a car loan. A financial institution in your ...

eco - Suppose a person pays $80 of annual interest on a loan that has a 5 ...

pre-algebra - thomas borrowed $4800 to buy a new car. he will be paying $96 each...

math - A car company is offering car loans at a simple interest rate of 4.7%. ...

math - A car company is offering car loans at simple interest rate of 14%. Find ...

loans - What are some examples of inexpensive loans and some advantages and ...