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irina1246 [14]
2 years ago
8

You have two loans, for 2 years each. The total interest for the two loans is $138. On the first loan, you pay 7.5% simple inter

est on a principal of $800. On the second loan, you pay 3% simple interest. What is the principle for the second loan?
Mathematics
2 answers:
slavikrds [6]2 years ago
6 0
The second loan is 8.2%
quester [9]2 years ago
4 0
The second loan is 8.2%
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<h3><u>Distributions</u></h3>

Given that Sylvia invested a total of $27,000, and she invested part of the money in a certificate of deposit (CD) that earns 3% simple interest per year, she invested in a stock that returns the equivalent of 7% simple interest, and she invested in a bond fund that returns 2%, and she invested three times as much in the stock as she did in the CD, and earned a total of $1140 at the end of 1 yr, to determine how much principal did she put in each investment, the following calculation must be made:

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Therefore, she invested $11,250 in the stock, $3,750 in the CD and $12,000 in the bond fund.

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