Ask Question
6 October, 07:51

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.

+2
Answers (1)
  1. 6 October, 10:30
    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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers