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1 year ago

Michelle borrows a total of $2500 in student loans from two lenders. One charges 4.4% simple interest and the other charges

Mathematics

1 answer:

Inessa [10]1 year ago

5 0

The amount borrowed from the the lender that charges 4.4% interest is $1000.

The amount borrowed from the the lender that charges 5.7% interest is $1500.

<h3>What are the linear equations that can be derived from the question?</h3>

a + b = $2500 equation 1

0.088a + 0.114b = $246 equation 2

Where:

a = amount borrowed from the lender that charges 4.4% interest

b = amount borrowed from the lender that charges 5.7% interest

<h3>How much was borrowed from the lender that charges 5.7% interest?</h3>

Multiply equation 1 by 0.114

0.114a + 0.114b = 285 equation 3

Subtract equation 2 from equation 3

39 = 0.026b

b = $1500

<h3>How much was borrowed from the lender that charges 4.4% interest?</h3>

Substitute for b in equation 1

a + $1500 = $2500

a = $2500 - $1500

a = $1000

To learn more about simultaneous equations, please check: brainly.com/question/25875552

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Answer:

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Step-by-step explanation:

Given:

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Eq2 - Eq1

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So,

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