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Algebra with financial applications?

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Algebra with financial applications?

Postby benjiro » Sat Oct 27, 2012 4:43 am

Lance will pay $825 to three different credit cards: Expert Card, Passport, and US Speedy. He will pay two times as much to Expert Card as US Speedy since it has a higher balance. He also expects the Passport payment to be only 25% of the total of the other two payments. How much will Lance pay towards the Passport credit card balance?

Answer options:
$220.00

$165.00

$206.25

$440.00
benjiro
 
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Algebra with financial applications?

Postby fallon » Sat Oct 27, 2012 4:44 am

Let x = payment to US Speedy

2x + x + .25 (2x + x) = 825
3x + .75x = 825
3.75x = 825
x = 220

Payment to Passport = .25 * (220 + 440) = 165
fallon
 
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Joined: Wed Oct 03, 2012 12:09 am


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