Charmaine bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $450 less than the desktop. She paid for the computers using two different financing plans. For the desktop the interest rate was 7% per year, and for the laptop it was 5.5% per year. The total finance charges for one year were $279. How much did each computer cost before finance charges? Note that the ALEKS graphing calculator can be used to make computations easier. Desktop: S Laptop: S

Charmaine bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $450 less than the desktop. She paid for the computers using two different financing plans. For the desktop the interest rate was 7% per year, and for the laptop it was 5.5% per year. The total finance charges for one year were $279. How much did each computer cost before finance charges? Note that the ALEKS graphing calculator can be used to make computations easier. Desktop: S Laptop: S

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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