Question

System of Equations and Inequalities.
$600,000 is borrowed for 1 year. Some of the money was borrowed at a 4% interest rate the rest was at a 6% interest rate. How much money was borrowed for each rate if the total interest is 29,000??

Answer 1

Let $x be the amount borrowed at 4% and $y be the amount at 6%. We can then write the following equations:
\[\large 600,000=x+y\ ............(1)\]
\[\large 29,000=0.04x+0.06y\ ........(2)\]
Now you just need to solve the equations to find the values of x and y.

Answer 2

Alright hold on writting it down

Answer 3

question though do i need to make a graph for this?

Answer 4

Not really. It can be solved by substitution by rearranging equation (1) to give y in terms of x, as follows:
\[\large y=600,000-x\ ..........(3)\]
Now you need to plug the expression for y in (3) into equation (2), giving an equation with only one variable, namely x. This can be easily solved to give the value of x.

Answer 5

ok so i did all the work for it and for x i got 3,500

Answer 6

That is not correct. Can you please post your work when the expression for y is plugged into equation (2).

Answer 7

my laptop won't let me hold on. i'm going to turn it off

Answer 8

Your first equation on line 4 has two errors. Compare your equation with equation (2) that I posted previously.