1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Paha777 [63]
3 years ago
10

Your company took a start up loan at 5% interest. You also took a capital improvement loan for 7% interest. The start up loan is

eight times larger than the improvement loan. If the interest paid on both loans for one year is $9,400, how much did the company borrow for each loan?
Mathematics
1 answer:
snow_tiger [21]3 years ago
6 0
To answer the question above, we let 8x be the amount loaned with 5% interest and x be the amount loaned at 7% interest. The amount of interest is calculated through the equation,
                                     I = amount x rate 
The sum of these interest should be 9,400. The equations that would best represent the given scenario are,
              (8x)(0.05) + x(0.07) = 9400
The value of x from the given equation is,
                              x = 20,000
Therefore, the company loaned $160,000 with 5% interest and $20,000 with 7% interest. 
                               
You might be interested in
A guy pays 29.50 dollars to buy a gaming mouse, the convenience tax is $8. What is the change in percent after the tax of $8
Firdavs [7]

You would multiply 29.50 x 0.07 which would give you 2.065. The tax amount would be $2.07. The total after tax would be $31.57

7 0
3 years ago
Anita uses 1 sheet of paper to make a calendar showing each month of the year. Draw Anita calendar. Show how she can divide her
hram777 [196]
There are multiple ways in which Anita can divide the sheet of paper for her calendar. First she can have it halved first then, divided by 6 or she can have it divided by 4 and divided each quarter by 3. Either way, each month would take up 1/12 of the total area of the paper. 
6 0
3 years ago
Read 2 more answers
If M={a,b,c,d} and N={c,b,e,f},find the value of M-N​
kumpel [21]

Answer:

M-N= {a,d}

Step-by-step explanation:

subtract the common elements

8 0
3 years ago
Read 2 more answers
last week, Jim worked h hours and earned $9 per hour. if he earned a total of $405, which equation can be used to find out how m
ad-work [718]
I hope this helps you




if he can earn $9 per hour


$405 ? hours




?=405/9



?=45 hours he worked
8 0
3 years ago
Please help me with this math
motikmotik
The answer must be 2.333333333 × 10^5
3 0
3 years ago
Read 2 more answers
Other questions:
  • The average rate of increase per year?
    13·1 answer
  • Find the area of the polygon with the given vertices W(0,0), X(0, 3), Y(-3,3), Z(-3,0)
    5·1 answer
  • jode rod his scooter to school at 20 miles per hour and then jogged back at 8 miles per hour if the round trip took him 7 hours
    14·1 answer
  • Jerry started doing sit-ups every day. The first day he did 18 sit-ups. Every day after that he did 2 more sit-ups than he had d
    6·1 answer
  • Round 27,141 to the nearest ten
    15·1 answer
  • -10 + x + 4 - 5 = 7x - 5<br>Step by Step please​
    9·2 answers
  • Question 7 of 10
    5·1 answer
  • Help please <br> f − –7/3 = 3
    15·2 answers
  • Solve for x plsss I need the answer ASAP plsss
    7·1 answer
  • I need help with The sum of 4 and a number
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!