Answer:
y = (6/5) - (7/5) x
Step-by-step explanation:
goal: to rearrange the equation such that it takes the form:
y = f(x) ; where f(x) is an expression in terms of x
Given:
7x+5y=6 subtract 7x from both sides
5y = 6 - 7x (divide both sides by 5)
y = (6-7x) / 5
y = (6/5) - (7/5) x
The amount that the bank loaned out at 7.9% is $1,574.00
How do represent the amounts lent at different rates?
On the assumption that x amount was loaned at 7.9% and that the remaining amount, (8,200-x) was loan out at 7.4%, we can determine the interest charged on each loan as the loan multiplied by the interest rate
interest on 7.9% loan=7.9%*x=0.079x
interest on 7.4% loan=7.4%*(8200-x)
interest on 7.4% loan=606.80-0.074x
total interest=0.079x+606.80-0.074x
total interest=0.005x+606.80
total interest on loans=614.67
614.67=0.005x+606.80
614.67-606.80=0.005x
7.87=0.005x
x=7.87/0.005
x=amount loaned at 7.9%=$1,574.00
y=$8200-$1574
y=$6,626.00
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