Explore Westonci.ca, the top Q&A platform where your questions are answered by professionals and enthusiasts alike. Experience the convenience of getting reliable answers to your questions from a vast network of knowledgeable experts. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.
Sagot :
Alfonso borrowed $750 from the bank with 4% simple interest and borrowed $1,750 from the bank with 3.5% simple interest.
How do we calculate the amount borrowed?
Let:
x = amount borrowed from the bank that charged 4% simple interest
y = amount borrowed from the bank that charged 3.5% simple interest
Therefore, we have:
x + y = 2,500 ............................... (1)
0.04x + 0.035y = 91.25 ............................. (2)
From equation (1), we have:
x = 2,500 - y ....................... (3)
Substituting equation (3) into (2) and solving for y, we have:
0.04(2,500 - y) + 0.035y = 91.25
100 - 0.04y + 0.035y = 91.25
100 - 0.005y = 91.25
-0.005y = 91.25 - 100
-0.005y = -8.75
y = -8.75 / -0.005
y = $1,750
Substituting for y in equation (3), we have;
x = 2,500 - 1,750
x = $750
Learn more about the amount borrowed here: brainly.com/question/17619427.
#SPJ
We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.
