adrianayepez8
12.01.2021 •
Mathematics
Ralph Chase plans to sell a piece of property for $170000. He wants the money to be paid off in two ways monica short-term note at 12% interest and a long-term note at 9% interest. Find the amount of each note if the total annual interest paid is $18000.
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Ответ:
The amount of 12% note is $90,000
The amount of 9% note is $80,000
Step-by-step explanation:
Missing word "The amount of the 12% note is $ and the amount of the 9% note is $"
Selling price = $170,000
Let x be the amount of money paid short term, therefore the amount of money paid long term is (170000 - x)
Given total annual interest = $18,000
Total annual interest = Interest due to short term (x) + interest due to long term (170000 - x)
18,000 = 0.12x + 0.09*(170000 - x)
18,000 = 0.12x + 15,300 - 0.09x
18,000 = 0.03x + 15,300
0.03x = 18,000 - 15,300
0.03x = 2,700
x = 2,700/0.03
x = 90,000
So, the amount of 12% note is $90,000
So long term paid money = $170,000 - $90,000 = $80,000
So, the amount of 9% note is $80,000
Ответ:
6 plus .1 plus .007
6 times 1 plus 1 times .1 plus 5 times .01
Step-by-step explanation:
Hope this helps