9514 1404 393
Answer:
$1400
Step-by-step explanation:
Let x represent the amount borrowed from Bank 1. For each loan, the interest is given by I=Prt, where P is the principal borrowed at rate r for t years.
Then the total interest over 3 years is ...
3(4.3%·x +5.9%(5400 -x)) = 888.60
-1.6%·x +318.60 = 296.20 . . . . . . . . . . . divide by 3, simplify
-1.6%·x = -22.40 . . . . . . . . . . . subtract 318.60
x = 22.40/0.016 = 1400
The student borrowed $1400 from Bank 1.
