Question

Question #2f094

Answer 1

In short term note is `$85000` and in long term note is `$65000`.

Explanation:

Let amount `$x` is in short term note at `11%` interest
Then amount `$(150000-x)` is in long term note at `9%` interest

By given terms `x*0.11 + (150000-x) *0.09 = 15200 or 0.11x-0.09x=15200 - (150000*0.09) or 0.02x = 15200 -13500 or 0.02x=1700 or x= 1700/0.02= $85000 :. (150000-x)= 150000-85000= $65000`

The amount in short term note is `$85000` and
the amount in long term note is `$65000` [Ans]