Question
Yang owed two credit cards with balances of $7,500 and $3,500. The card
with the $3,500 balance charged 1.4% more than the other. At the end of one
year, he paid is $797. What was the simple interest of each card?
with the $3,500 balance charged 1.4% more than the other. At the end of one
year, he paid is $797. What was the simple interest of each card?
Answers
If the rate on the 7500 balance is x, then
3500(x+0.014) + 7500x = 797
Now solve for x and finish it off
3500(x+0.014) + 7500x = 797
Now solve for x and finish it off
Related Questions
Which of the following will increase your credit score? You’ve many missed or late payments on your...
Alexandria earns $58,000 per year. Her monthly expenses excluding entertainment and her credit cards...
Rank the credit cards from best to worst from a borrower's perspective based on the APR:
Credit...
Identify an action that will positively affect a credit history.(1 point)
Responses
Have the max...