Two business partners decided to borrow $30,000 start-up money for their business. One borrowed a certain amount at a 16.5% interest rate and the other one borrowed the rest of the money at a 12.5% interest rate. How much money did each business partner borrow if the total interest amount at the end of the year was $4150?
Answer:
Step-by-step explanation:
Let's assume the first business partner borrowed x dollars and the second partner borrowed (30000 - x) dollars.
The interest earned by the first partner at a rate of 16.5% is (x * 0.165), and the interest earned by the second partner at a rate of 12.5% is ((30000 - x) * 0.125).
According to the given information, the total interest earned by both partners is $4150. So, we can write the equation:
(x * 0.165) + ((30000 - x) * 0.125) = 4150
Now, let's solve this equation to find the values of x.
0.165x + 0.125(30000 - x) = 4150
0.165x + 3750 - 0.125x = 4150
0.04x = 400
x = 400 / 0.04
x = 10000
Therefore, the first business partner borrowed $10,000 at a 16.5% interest rate, and the second partner borrowed (30000 - 10000) = $20,000 at a 12.5% interest rate.
Let's call the amount borrowed by the business partner at 16.5% "x" and the amount borrowed by the other business partner "y".
We know that the total amount borrowed is $30,000, so:
x + y = $30,000
We also know that the interest earned by the first business partner is 16.5% of x, and the interest earned by the second business partner is 12.5% of y.
So the total interest earned for the year is:
0.165x + 0.125y = $4150
We now have two equations with two unknowns, which we can solve for x and y.
First, let's isolate one of the variables in the first equation:
x = $30,000 - y
Now we can substitute this expression for x into the second equation:
0.165($30,000 - y) + 0.125y = $4150
0.165($30,000 - y) + 0.125y = $4150
$4,950 - 0.165y + 0.125y = $4150
Combine like terms:
-0.04y = $4150 - $4,950
-0.04y = -$800
Divide both sides by -0.04 to isolate y:
y = -$800 / -0.04
y = $20,000
Now that we have the value of y, we can substitute it back into the first equation to find x:
x + $20,000 = $30,000
x = $30,000 - $20,000
x = $10,000
So, the amount borrowed by the first business partner is $10,000, and the amount borrowed by the second business partner is $20,000.
Please answer the bottom question please (the cylinder question)! The first one has been answered already.
Answer:7,065
Step-by-step explanation: 50x75x3.14 then subtract 20x75x3.14
Translate the sentence into an equation. Two less than the product of 5 and a number equals 9. Use the variable c for the unknown number.
Answer:
The equation is: [tex]5c-2=9[/tex]
Step-by-step explanation:
Since 2 less than the product of 5 and a number c is equal to 9, it follows:
[tex]5c-2=9[/tex]