SOLUTION: ruth borrowed $2000, part from each of rwo different sources, for a 6-month period. one charged 6% interest and the other 8%. When paid them off, she paid a combined total of $68 i

Algebra ->  Finance -> SOLUTION: ruth borrowed $2000, part from each of rwo different sources, for a 6-month period. one charged 6% interest and the other 8%. When paid them off, she paid a combined total of $68 i      Log On


   



Question 253828: ruth borrowed $2000, part from each of rwo different sources, for a 6-month period. one charged 6% interest and the other 8%. When paid them off, she paid a combined total of $68 interest. How much did she borrow at each rate?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
i=prt
i=prt+prt
68=x*.06*.5+(2000-x)*.08*.5
x=1200 at 6%
2000-x=800 at8%