<PRE><B>Question 806130</B>
Please help me solve this problem: Suppose that you have two student loans, one that charges 3% interest, and the other chargers 5% interest. Last year, you paid a total of $185 in interest. If you owe $500 less on the 3% loan than you do on the 5% loan, how much do you owe each loan?


Loan I -----------3%---------------amount--------------x

Loan II------------5%------------amount---------------(x+500)

Total interest = 185

3%x+5%(x+500)=185

multiply by 100
3x+5(x+500)=18500

3x+5x+2500=18500

8x= 18500-2500
8x=16000
/8
x=2000 on 3%

2500 @ 5%</PRE>