Joe took out a 5 year loan for 14,700 to buy a new car he has to pay 4.9% simple interest on the loan how much interest will joe
1 answer:
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<u>Answer:</u>
$50 and $115
<u>Step-by-step explanation:</u>
We know that,
the sum of the two rates = $165 per hour
Let x and (165 - x) represent the $/hour of the 15hr and 5hr mechanics respectively.
Then combining their charges together to get:
Solving for x to get:
So the rate charged per hour by one mechanic is $50 and for the other mechanic = $115.