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,...
Related questions
Question
Can you help?13
Transcribed Image Text:42
13
14
on 15
K
e solve this
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.
entre
The amount of the 12% note is $and the amount of the 9% note is $
View an example Get more help -
Type here to search
E
E
9
P
r
t
Note Interest Time
Amount Rate (%) (in years)
140000-x
12
9
Clear all
x(0.12)(1)
1 (140000-x)(0.09X(1)
Check answer
3:23 PM
OFFRID 4 12/2/2022
I
Interest
Paid
□
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 2 images
Recommended textbooks for you
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University