wendylynn89
New member
- Joined
- Oct 5, 2011
- Messages
- 2
Mr. Jackson borrowed money from his bank and on his life insurance to start a business. His interest rate on the bank loan was 10%, and his rate on the insurance loan was 12%. If the total amount borrowed was $100,000 and his total yearly interest payment was 10,900, how much money did he borrow from the bank?
A) Assign two variables and describe precisely what they represent.
B) Write a system of two equations that would solve this problem
c) solve the problem algebraically and answer the question posed in the problem.
A) Assign two variables and describe precisely what they represent.
B) Write a system of two equations that would solve this problem
c) solve the problem algebraically and answer the question posed in the problem.