Intermediate Algebra for College Students (7th Edition)

Published by Pearson
ISBN 10: 0-13417-894-7
ISBN 13: 978-0-13417-894-3

Chapter 3 - Section 3.1 - Systems of Linear Equations in Two Variables - Exercise Set - Page 194: 123

Answer

The expression for total interest is $ 0.15x+0.07y $.

Work Step by Step

Given formula is $ I=Pr $ ...(1) The first condition is Principal $ P=x $ and Interest rate $ r=15\%=0.15 $ By using equation (1) the simple interest is. $ I_{1}=0.15x $ The second condition is Principal $ P=y $ and Interest rate $ r=7\%=0.07 $ By using equation (1) the simple interest is. $ I_{2}=0.07y $ Total interest. $ I=I_{1}+I_{2} $ Substitute values of $ I_{1} $ and $ I_{2} $. $ I = 0.15x+0.07y$.
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