College algebra math word problem.please help

Question

ralph chase plans to sell a piece of property for 145,000$. He wants the money to be paid off two ways. a short term note at 11% and long term note at 9% . find the amount of each note if the annual interest paid is 14550$.

Answer 1

0.11x + 0.09(145,000-x)=14550

0.11x + 13,050-0.09x=14550

0.02x=1500

x=75,000

 

145,000-75,000=70,000

 

Amount of 11% note=75000

Amount of 9% note=70000