Posted by **Chrissy** on Wednesday, January 11, 2012 at 9:13pm.

To buy both a new car and a new house, Tina sought two loans totalling $319.531. The simple interest rate on the first loan was 2.7%, while the simple interest rate on the second loan was 2.6%. At the end of the first year, Tina paid a combined interest payment of $8334.15. What were the amounts of the two loans?

- Math -
**Steve**, Thursday, January 12, 2012 at 10:40am
let a be the amount of the 2.7% loan

let b be the amount of the 2.6% loan

a + b = 319531.00

.027a + .026b = 8334.15

multiply the top by .027 and subtract

.027a + .027b = 8627.34

.027a + .026b = 8334.15

.001b = 293.19

so,

b= 293190

and

a = 26341

- GOLD DUST FOR SALE -
**BENSON IMO**, Tuesday, January 17, 2012 at 4:11am
GOLD DUST FOR SALE

MR BENSON IMO

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