I need to know how to solve this problem because I’m very confused and it doesn’t explain what it is or how to do it in my textb
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1 answer:
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Answer:
The loaned amount at 11 % is $ 19,000
The loaned amount at 10 % is $ 2,500
Step-by-step explanation:
Given as :
The total loan amount = $21,500
The total interest earn = $2,340.00
The rate of interest are 11 % and 10 %
Let The loan amount at 11 % rate = $P
and The loan amount at 10 % rate = $21,500 - $P
Let The loan took for 1 year
Now,<u> From Simple Interest method </u>
Simple Interest =
=
Or, =
Similarly
=
∵ +
= $2,340
Or, +
= $2,340
Or, 11 P - 10 P + 215000 = 234000
Or, P = 234000 - 215000
∴ P = $ 19,000
And $21,500 - $ 19,000 = $ 2,500
Hence The loaned amount at 11 % is $ 19,000
And The loaned amount at 10 % is $ 2,500 Answer
Answer: 6 years old.
Step-by-step explanation:
For this exercise let "x" represents your present age.
According to the information provided in the exercise, you know that In three years, Chad will be three times your present age.
Then, your age in three years can be represented with the following expression:
Knowing at that time Chad's age will be three times yours and you will be half as old as old as Chad, you can write the following equation to represent this situation:
Therefore, the final step is to solve for "x" in order to find its value.
You get that this is: