Daniel bought a desktop computer and a laptop computer. Before finance charges, the laptop cost US$300 more than the desktop. He paid for the computers using two different financing plans. For the desktop the interest rate was 9% per year, and for the laptop it was 7% per year. The total finance charges for one year were US$365. How much did each computer cost before finance charges?
Question
Daniel bought a desktop computer and a laptop computer. Before finance charges, the laptop cost US365. How much did each computer cost before finance charges?
Solution
Let's denote the cost of the desktop computer as and the cost of the laptop computer as .
According to the problem, the laptop cost $300 more than the desktop:
The interest rate for the desktop is 9% per year, and for the laptop, it is 7% per year. The total finance charges for one year were $365. Therefore, we can write the equation for the total finance charges as:
Now, we substitute the expression for from the first equation into the second equation:
Next, we distribute the 0.07:
Combine the terms involving :
Subtract 21 from both sides to isolate the term with :
Now, divide both sides by 0.16 to solve for :
So, the cost of the desktop computer is $2150. To find the cost of the laptop computer, we use the first equation:
Therefore, the cost of the desktop computer is 2450.
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