Let the speed of the current equal c
and the speed of the boat in still water equal b.
b + c = 1.5 (b - c)
b + c = 1.5b - 1.5c
0.5b = 2.5c
b = 5c
The speed of the current is 1.5 mph so
b = 5 * 1.5 = 7.5 mph
If Mike is willing to pay no more than an effective rate of 8.000% annually, the loans that meet his criteria are loan X and loan Z. Of those two, the lowest would be loan X. I hope the answer will help you :)