JPHamlett
04-29-2011, 03:09 AM
1. Samantha’s student loans total $30,000. Part was a personal loan at 10% interest; the other was a Stafford loan at 5%. After one year the loans accumulated $2,300 in interest. What was the amount of each loan?
a) Develop an equation to represent the sum of the loans, use ‘x’ for the personal loan, use ‘y’ for the Stafford loan..
b) Develop an equation to represent the interest accumulated in the first year. Use ‘x’ for the personal loan, use ‘y’ for the Stafford loan.
c) Use the equations from part a and b of this exercise as a system of equations. Use substitution to determine the amount of each loan. Show all your work from problem statement through the final result.
d) What are the intercepts of the equation from part a of this problem?
Where would the lines intersect if you solved the system by graphing?\
I honestly have NO idea even where to begin, so any help is GREATLY appreciated.
a) Develop an equation to represent the sum of the loans, use ‘x’ for the personal loan, use ‘y’ for the Stafford loan..
b) Develop an equation to represent the interest accumulated in the first year. Use ‘x’ for the personal loan, use ‘y’ for the Stafford loan.
c) Use the equations from part a and b of this exercise as a system of equations. Use substitution to determine the amount of each loan. Show all your work from problem statement through the final result.
d) What are the intercepts of the equation from part a of this problem?
Where would the lines intersect if you solved the system by graphing?\
I honestly have NO idea even where to begin, so any help is GREATLY appreciated.