Abusiness has two loans totaling $85,000. one loan has a rate of 4.5% and the other has a rate of 6%. this year, the business expects to pay $4,650 in interest on the two loans. how much is each loan?

$30,000 and $55,000

Step-by-step explanation:

If 4.5% loan is x, and the 6% loan is y, then:

x + y = 85000

0.045x + 0.06y = 4650

Solve the system of equations with substitution or elimination.  Using substitution:

0.045x + 0.06(85000 − x) = 4650

0.045x + 5100 − 0.06x = 4650

450 = 0.015x

x = 30000

y = 55000

why can't you?

step-by-step explanation:

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