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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 US300morethanthedesktop.Hepaidforthecomputersusingtwodifferentfinancingplans.Forthedesktoptheinterestratewas9300 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 US365. How much did each computer cost before finance charges?

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Solution

Let's denote the cost of the desktop computer as D D and the cost of the laptop computer as L L .

According to the problem, the laptop cost $300 more than the desktop: L=D+300 L = D + 300

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: 0.09D+0.07L=365 0.09D + 0.07L = 365

Now, we substitute the expression for L L from the first equation into the second equation: 0.09D+0.07(D+300)=365 0.09D + 0.07(D + 300) = 365

Next, we distribute the 0.07: 0.09D+0.07D+21=365 0.09D + 0.07D + 21 = 365

Combine the terms involving D D : 0.16D+21=365 0.16D + 21 = 365

Subtract 21 from both sides to isolate the term with D D : 0.16D=344 0.16D = 344

Now, divide both sides by 0.16 to solve for D D : D=3440.16 D = \frac{344}{0.16} D=2150 D = 2150

So, the cost of the desktop computer is $2150. To find the cost of the laptop computer, we use the first equation: L=D+300 L = D + 300 L=2150+300 L = 2150 + 300 L=2450 L = 2450

Therefore, the cost of the desktop computer is 2150,andthecostofthelaptopcomputeris2150, and the cost of the laptop computer is 2450.

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