Ruben repaid $800, paying back two equal outstanding loans from seven months ago and five months ago.

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Ruben repaid $800, paying back two equal outstanding loans from seven months ago and five months ago. If interest is 11% on the loans, and the agreed focal date is today, what was the size of the equal amounts borrowed?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:40 AM

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Ruben repaid $800, paying back two equal outstanding loans from seven months ago and five months ago.

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Let the size of the equal loans be x Th...View the full answer

Contemporary Business Mathematics with Canadian Applications

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