Question
135. Student Loans A student takes out two loans total-
ing $3000 to help pay for college expenses. One loan
is at 8% interest, and the other is at 10%. Interest for
both loans is compounded annually.
(a) If the first-year interest is $264, write a system
of equations whose solution is the amount of
each loan.
(b) Find the anmount of each loan.
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Transcribed Image Text

135. Student Loans A student takes out two loans total- ing $3000 to help pay for college expenses. One loan is at 8% interest, and the other is at 10%. Interest for both loans is compounded annually. (a) If the first-year interest is $264, write a system of equations whose solution is the amount of each loan. (b) Find the anmount of each loan.

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