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Alicia borrowed $3000 from the bank at a rate of 12% simple interest per year. She earned 1440. How many years was the loan.?
1 answer:
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Step-by-step explanation:
Let's represent the number of mochas bought with the variable , and the number of lattes bought with the variable
.
Since there are students, the total number of mochas and lattes bought must be
. This can be represented with the following equation:
We can also set up another equation based on the total amount spent on the coffe:
If we rearrange the first equation, we can solve for :
If we substitute this into the second equation, we can solve for :
Subtituting this back into the original equation, we can solve for :
Therefore, 9 mochas and 14 lattes were bought.