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Dmitrij [34]
3 years ago
11

which will have a higher effective interest rate a payday loan for $1700 that is due in 16 days with a fee of $100, or a payday

loan for $1700 that is due in 14 days with a fee of $100
Mathematics
2 answers:
Fantom [35]3 years ago
7 0
1700 that is due in 14 days with a fee of 100$ because it’s a shorter time period
andrew-mc [135]3 years ago
3 0
A payday loan for $1700 that is due in 14 days with a fee of $100, since it has the shorter period. (Apex)
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Can someone help me with this problem please?
Tom [10]

Answer:

senior tickets sold: 12

child tickets sold:8

Step-by-step explanation:

Let

x= amount of senior tickets sold

y= amount of child tickets sold

For the first equation, it should look like:

200=14x+4y

For the second equation, it should look like:

92=7x+y

So this is a systems of equations problem. So I will use substitution as it is easier:

1.) Take one of the equations (in this case ill take 92=7x+y) and make one variable have a value, in this case ill isolate the y.

(-7x)92=7x+y(-7x)

y=92-7x

2.) Take the value of y and plug it into "y" into the other equation to solve "x"

200= 14x + 4(92-7x)\\200=14x+368-28x\\(-368)200=-14x+368(-368)\\(-\frac{1}{14})* -168=-14x*(-\frac{1}{14} )\\\\x=12

<u><em>(editor's note:instead of dividing it by 14, I multiply by 1/14 as it would look complicated in the equation solving steps)</em></u>

3.) Then plug the value of "x" to one of the equations to solve for "y" (which I'll use the 92=7x+y)

92=7(12)+y\\(-84)92=84+y(-84)\\y=8

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Answer:

Step-by-step explanation:

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Step-by-step explanation:

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