SOLUTION: An individual has two low-interest loans, one at 4% interest and the other at 6% interest. The amount borrowed at 6% is $250 more than the amount borrowed at 4%. If the total inter
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-> SOLUTION: An individual has two low-interest loans, one at 4% interest and the other at 6% interest. The amount borrowed at 6% is $250 more than the amount borrowed at 4%. If the total inter
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Question 432890: An individual has two low-interest loans, one at 4% interest and the other at 6% interest. The amount borrowed at 6% is $250 more than the amount borrowed at 4%. If the total interest for one year is $165, how much is borrowed at each rate? Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! .04(x)+.06(x+250)=165
4x+6x+1500=16500
10x=15000
x=1500
$1500 is borrowed at 4%, and $1750 at 6%..
