Did I do this right?<br> In △RST, VT=60 in. <br><br> What is the length of TX¯¯¯¯¯?

Michelle borrows a total of $2500 in student loans from two lenders. One charges 4.4% simple interest and the other charges

Inessa [10]

The amount borrowed from the the lender that charges 4.4% interest is $1000.

The amount borrowed from the the lender that charges 5.7% interest is $1500.

<h3>What are the linear equations that can be derived from the question?</h3>

a + b = $2500 equation 1

0.088a + 0.114b = $246 equation 2

Where:

a = amount borrowed from the lender that charges 4.4% interest

b = amount borrowed from the lender that charges 5.7% interest

<h3>How much was borrowed from the lender that charges 5.7% interest?</h3>

Multiply equation 1 by 0.114

0.114a + 0.114b = 285 equation 3

Subtract equation 2 from equation 3

39 = 0.026b

b = $1500

<h3>How much was borrowed from the lender that charges 4.4% interest?</h3>

Substitute for b in equation 1

a + $1500 = $2500

a = $2500 - $1500

a = $1000

To learn more about simultaneous equations, please check: brainly.com/question/25875552

5 0

2 years ago

Kali invests $3516 in a savings account with a fixed annual interest rate of 7% compounded 3 times per year. What will the accou

ZanzabumX [31]

$\bf ~~~~~~ \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to &\$3516\\
r=rate\to 7\%\to \frac{7}{100}\to &0.07\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{well, is just three}
\end{array}\to &3\\
t=years\to &7
\end{cases}
\\\\\\
A=3516\left(1+\frac{0.07}{3}\right)^{3\cdot 7}\implies A=3516\left( \frac{307}{300} \right)^{21}\implies A\approx 5707.0070$