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stiks02 [169]
3 years ago
12

Ralph Chase plans to sell a piece of property for 175000. He wants the money to be paid off in two ways - a short term note at 1

1% interest and a long term note at 9% interest. Find the amount of each know if the total annual interest paid is 17650
Mathematics
1 answer:
AleksAgata [21]3 years ago
5 0
.11x+.08(180000-x)=17400
.11x+14400-.08x=17400
.03x=3000
x=$100,000 at 11%
$80,000 at 8%
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