Abdul bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $150 more than the desktop. He paid for the computers using two different financing plans. For the desktop the interest rate was 7% per year, and for the laptop it was 9.5%per year. The total finance charges for one year were $303. How much did each computer cost before finance charges?

Question

contestada

Respuesta :

chisnau chisnau · Answer 1 · 2019-08-07T20:28:48+02:00

Answer:

The cost of desktop before finance charge was $1750.

The cost of laptop before finance charge was $1900.

Step-by-step explanation:

Let us assume this is a simple interest scenario.

Let D be the cost of desktop

Let L be the cost of laptop

Given- the laptop cost $150 more than the desktop.

So, [tex]L=D+150[/tex]

The total finance charge for 1 year is given by :

[tex]0.07D+0.095L =303[/tex]

Substituting the value of L here, we get;

[tex]0.07D+0.095(D+150) =303[/tex]

=>[tex]0.07D+0.095D+14.25 =303[/tex]

=> [tex]0.165D+14.25 =303[/tex]

=> [tex]0.165D=303-14.25[/tex]

=> [tex]0.165D=288.75[/tex]

D = $1750

As [tex]L=D+150[/tex]

So, [tex]L=1750+150=1900[/tex]

L = $1900

We can check this :

[tex]0.07(1750)+0.095(1900) =303[/tex]

=> [tex]122.50+180.50=303[/tex]

=> [tex]303=303[/tex]

So, the cost of desktop before finance charge was $1750.

The cost of laptop before finance charge was $1900.