Suppose that both loans have an interest rate of 10% and the total first-year interest is $300.
Question:
Suppose that both loans have an interest rate of 10% and the total first-year interest is $300. If possible, determine the amount of each loan. Interpret your results.
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Step by Step Answer:
The system of equations becomes xy3000 and 010x010y 300 Solving y gives xy3000 y 3000x and 010x010y3...View the full answer
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Related Book For 
College Algebra With Modeling And Visualization
ISBN: 9780134418049
6th Edition
Authors: Gary Rockswold
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