Monday

March 2, 2015

March 2, 2015

Posted by **Rigby** on Wednesday, January 30, 2013 at 4:38am.

- Math -
**drwls**, Wednesday, January 30, 2013 at 5:49amLet X = the amount borrowed at 9% interest

let Y = the amount borrowed at 12% interest.

Here is what you know:

X + Y = 85,000

0.09 X + 0.12 Y = 9,300

Now solve those two simultaneous equations. One easy way is to multiply both sides of the first equation by 0.09.

0.09 X+ 0.09 Y = 7,650

Now subtract that from the second equation to eliminate the X variable.

0.03 Y = 1650

Y = 55,000

X = 30,000

**Answer this Question**

**Related Questions**

math - Model this situation w/ a linear system: Melissa borrowed $10, 000 for ...

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

Math - A woman has a total of $10,000 to invest. She invests part of the money ...

math - A woman has a total of $9,000 to invest. She invests part of the money in...

math - ...A woman has a total of $9,000 to invest. She invests part of the ...

intermediate algebra - A woman has a total of $9,000 to invest. She invests part...

finance - uconn has issued a 10 year $5,000,000 bond with semi annual interest ...

accounting - uconn has issued a 10 year $5,000,000 bond with semi annual ...

math - Model this situation w/ a linear system: Melissa borrowed $10, 000 for ...

math - Michael has a total of $2000 on deposit with two saving institutions. One...