#$&*
course mth158
july 4
015. `* 15
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Question: * 1.7.20 (was 1.2.30). Explain how you set up and solved an equation for the problem. Include your equation and the reasoning you used to develop the equation. Problem (note that this statement is for instructor reference; the full statement was in your text) million to lend at 19% or 16%, max lent at 16% to average 18%.
YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY
Your solution:
If you multiply 1 million by 18 %, 16% and 19 % you get
180,000
160,000
190,000 respectively and this means that if you gave everyone a loan at 16% you would be 20,000 short of your quota. IF you gave everyone a loan at 19% you would be 10,000 over your quota so this means that your equation should be
x = money loaned out at 16%
then 180,000 - x = money loaned out at 19%
.16x +.19(1,000,000) - x = 180,000
160,000x + 190,000 - x = 180,000 combine like terms
159999x + 190,000 = 180,000
159999x = -10,000
x = - 6 % which means 6 % of the loans must be at 19%
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@& See my notes on the other queries you submitted today. It appears that you could proceed to testing, but without seeing entire documents I can't say this for sure.*@