document.write( "Question 338754: Samantha’s student loans total $20,000. Part was a personal loan at 12% interest; the other was a Stafford loan at 10%. After one year the loans accumulated $2160 in interest. What was the amount of each loan? \n" ); document.write( "

Algebra.Com's Answer #242819 by stanbon(75887) $\"\"$ $\"About$

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Samantha’s student loans total $20,000. Part was a personal loan at 12% interest; the other was a Stafford loan at 10%. After one year the loans accumulated $2160 in interest. What was the amount of each loan?
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\n" ); document.write( "Equations:
\n" ); document.write( "Quantity: x + y = 20,000
\n" ); document.write( "Interest:0.12x+0.10y = 2150
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\n" ); document.write( "Multiply thru the Quantity equation by 12
\n" ); document.write( "Multiply thru the Interest equation by 100
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\n" ); document.write( "12x + 12y = 12*20000
\n" ); document.write( "12x + 10y = 215000
\n" ); document.write( "--------------------------
\n" ); document.write( "Subtract the 2nd equation from the 1st and solv for \"y\":
\n" ); document.write( "2y = 25000
\n" ); document.write( "y = $12,500 (amt. invested at 10%)
\n" ); document.write( "x = 20,000-12,500 = $7,500 (amt. invested at 12%)
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\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H. \n" ); document.write( "

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