Question

Bob bought a desktop computer and a laptop computer. before finance charges, the laptop cost $ 200 more than the desktop. he paid for the computers using two different financing plans. for the desktop the interest rate was 5 % per year, and for the laptop it was 7 % per year. the total finance charges for one year were $ 350 . how much did each computer cost before finance charges?

Answer 1

To determine the cost of the desktop and laptop computers, we need to set up and solve an equation based on the given information and the finance charges. By solving the equation, we can find the cost of the desktop computer and then determine the cost of the laptop.

Step-by-step explanation:

Let's assume the cost of the desktop computer is x dollars. Since the laptop cost $200 more than the desktop, we can represent the cost of the laptop as (x + $200).

The finance charges for the desktop can be calculated by multiplying the cost of the desktop by the interest rate of 5%, which gives us 0.05x dollars. Similarly, the finance charges for the laptop can be calculated by multiplying the cost of the laptop by the interest rate of 7%, resulting in 0.07(x + $200) dollars.

The total finance charges for one year are given as $350, so we can set up the equation 0.05x + 0.07(x + $200) = $350.

Solving this equation will give us the value of x, which represents the cost of the desktop computer. We can then use this value to determine the cost of the laptop.