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mote1985 [20]
3 years ago
11

Ralph Chase plans to sell a piece of property for ​$170000. He wants the money to be paid off in two ways monica ​short-term not

e at 12% interest and a​ long-term note at 9% interest. Find the amount of each note if the total annual interest paid is ​$18000.
Mathematics
1 answer:
natima [27]3 years ago
6 0

Answer:

The amount of 12% note is $90,000

The amount of 9% note is $80,000

Step-by-step explanation:

Missing word <em>"The amount of the 12% note is $ and the amount of the 9% note is $"</em>

<em />

Selling price = $170,000

Let x be the amount of money paid short term, therefore the amount of money paid long term is (170000 - x)

Given total annual interest = $18,000

Total annual interest = Interest due to short term (x) + interest due to long term (170000 - x)

18,000 = 0.12x + 0.09*(170000 - x)

18,000 = 0.12x + 15,300 - 0.09x

18,000 = 0.03x + 15,300

0.03x = 18,000 - 15,300

0.03x = 2,700

x = 2,700/0.03

x = 90,000

So, the amount of 12% note is $90,000

So long term paid money = $170,000 - $90,000 = $80,000

So, the amount of 9% note is $80,000

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y-y0=m(x-x0) ...................................(1)
where 
m=slope of line
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We know that the line passes through A(3,-6), B(1,2)

All options have a slope of -4, so that should not be a problem.  In fact, if we check the slope=(yb-ya)/(xb-xa), we do find that the slope m=-4.

So we can check which line passes through which point:

a. y+6=-4(x-3)
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b. y-1=-4(x-2) means line passes through (2,1), which is neither A nor B
   ****** this equation is not the line passing through A & B *****

c. y=-4x+6  subtract 2 from both sides (to make the y-coordinate 2)
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d. y-2=-4(x-1)
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Answer: the equation y-1=-4(x-2) does NOT pass through both A and B.
   
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https://www.wyzant.com/resources/answers/499729/fireworks_can_go_up_to_1000_feet_in_around_3_seconds_what_s_is_it_s_average_vertical_speed_in_feet_per_second_and_miles_per_hour

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