Question

Jessica has a credit card from party bank and another from artic bank. she owes artic bank $150 more than party bank. party bank charges 16% simple interest per year and artic bank charges 17% per year. the yearly interest charge Jessica needs to pay is $279.60. how much money does Jessica owe artic bank before interest charges?

Answer 1

Add up the interest owed to each bank:
.16(a-150)+.17a = 279.60
a = 920

So, she owes
$920 to artic
$770 to party