K Ralph Chase plans to sell a piece of property for $140000. He wants the money to be paid off in two ways - a short-term note at 12% interest and a long-term note at 9% interest. Find the amount of each note if the total annual interest paid is $14850 The amount of the 12% note is $ and the amount of the 9% note is $ P r t Note Interest Time Amount Rate (%) (in years) 12 140000-x 9 X I Interest Paid x(0.12)(1) 1 (140000-x)(0.09X(1)
K Ralph Chase plans to sell a piece of property for $140000. He wants the money to be paid off in two ways - a short-term note at 12% interest and a long-term note at 9% interest. Find the amount of each note if the total annual interest paid is $14850 The amount of the 12% note is $ and the amount of the 9% note is $ P r t Note Interest Time Amount Rate (%) (in years) 12 140000-x 9 X I Interest Paid x(0.12)(1) 1 (140000-x)(0.09X(1)
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 15PT: Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest,...
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