Loan payments are <em>linear in the loan amount</em> for a given rate and period, so the payments for loans of $2000 and $1000 sum to the amount of payments for a loan of $3000.

The only possible savings (or cost) might come from rounding to the nearest cent. (In any event, the final payment on each loan should make up for any differences due to rounding.)

5 0

3 years ago

In one afternoon's shopping Seedevi spent half as much money as Georgia, but $6 more than Amy. If the three of them spent a tota

joja [24]

The amount spent by Seedevi is $66

<h3>How to determine the amount spent by Seedevi?</h3>

From the question, the given parameters are:

Seedevi = half as much money as Georgia,

Seedevi = $6 more than Amy

The three of them = $258

To solve this question, we use the following representations

x = Seedevi

y = Georgia

z = Amy

So, we have the following equations

x = 0.5y

x = 6 + z

x + y + z = 258

Make y and z the subjects

y = 2x

z = x - 6

Substitute y = 2x and z = x - 6 in x + y + z = 258

x + 2x + x - 6 = 258

Evaluate the like terms

4x = 264

Divide by 4

x = 66

Hence, the amount spent by Seedevi is $66