Ask Question
29 April, 11:52

Loan x has a principal of $10,000x and a yearly simple interest rate of 4%. Loan y has a principal of $10,000y and a yearly simple interest rate of 8%. Loans x and y will be consolidated to form loan z with a principal of $ (10,000x + 10,000y) and a yearly simple interest rate of r%, where r =. In the table, select a value for x and a value for y corresponding to a yearly simple interest rate of 5% for the consolidated loan. Make only two selections, one in each column.

+3
Answers (1)
  1. 29 April, 12:11
    0
    X = 32

    Y = 96

    Explanation:

    Z = 5%

    Z = (0.04X + 0.08Y) / (X + Y)

    we can substitute Z:

    0.05 = (0.04X + 0.08Y) / (X + Y)

    0.05 (X + Y) = 0.04X + 0.08Y

    0.05X + 0.05Y = 0.04X + 0.08Y

    0.01X = 0.03Y

    X = 0.03Y / 0.01 = 3Y

    This means that we must choose one value for Y that divided by 3 equals another option:

    the only possibility that fits the equation is:

    X = 32 Y = 96
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Loan x has a principal of $10,000x and a yearly simple interest rate of 4%. Loan y has a principal of $10,000y and a yearly simple interest ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers