Answer:
- short-term: $90,000
- long-term: $70,000
Step-by-step explanation:
Let x represent the amount borrowed on the short term. Then 160000-x is the amount of the long-term note. The total interest is ...
0.11x +0.08(160000-x) = 15500
0.03x + 12800 = 15500 . . . . simplify
0.03x = 2700 . . . . . . . . . subtract 12800
x = 2700/.03 = 90,000 . . . . short-term note
160,000 -90,000 = 70,000 . . . . long-term note
The short-term note was for $90,000; the long-term note was for $70,000.
Answer:
its gowing to be eleven dollars an 46 sent11.46
