document.write( "Question 1122299: rocco borrowed a total of $5000 from two student loans one loan charged 2% simple interest and the other charged 1.5% simple interest both payable after graduation if the interest he owed after 1 yr was $80 determine the amount for each loan \n" ); document.write( "
Algebra.Com's Answer #738387 by Boreal(15235)![]() ![]() You can put this solution on YOUR website! Loan A=2% \n" ); document.write( "Loan B=1.5% \n" ); document.write( "x amount for loan A, interest is 0.02x \n" ); document.write( "5000-x amount for loan B, interest is -.015 for 75-0.015x \n" ); document.write( "That sum is 80 \n" ); document.write( "0.005x+75=80, combining the x s \n" ); document.write( "0.005x=5 \n" ); document.write( "divide both sides by 0.005 \n" ); document.write( "x+$1000, and at 2%, that is $20 \n" ); document.write( "5000-x =$4000, and at 1.5%, that is $60 \n" ); document.write( " |