Money is borrowed at 9% simple interest after one year $1209.90 pays off the loan how much was originally borrowed
2 answers:
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Answer:
Jason has $58.20 and Jeff has $13.80.
Step-by-step explanation:
Let x represent the amount of money Jason has, and y represent the amount of money Jeff has.
We know that together they have $72. So, we can write the following equation:
We know that Jason has three <em>more</em> than four <em>times</em> the amount of money Jeff has. So:
This is a system of equations. We can solve it by using substitution. Let's substitute the second equation into the first. This yields:
Combine like terms:
Subtract 3 from both sides:
Divide both sides by 5:
So, Jeff has $13.80
We know that Jason has three more than four times the amount of money Jeff has.
Therefore, Jason has:
Multiply and add:
So, Jason has $58.20 and Jeff has $13.80.
And we're done!