152) Franco borrows a total of $5.000 in student loan from two lenders. Onecharges 4.1% simple interest and the other charges 6.1% simple interest. Heis not required to pay off the principal for 3 yr. However, at the end of 3 yr,he will owe a total of $825.00 for interest from both loans. How much did heborrow from each lender?0.7234,1%4,7.x. 34.21008256.2 3C.1 (50or). 3C.27o, 0424.2Oo62S.2100112-005)7900305 0.061.33il

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Asked Nov 19, 2019
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2) Franco borrows a total of $5.000 in student loan from two lenders. One
charges 4.1% simple interest and the other charges 6.1% simple interest. He
is not required to pay off the principal for 3 yr. However, at the end of 3 yr,
he will owe a total of $825.00 for interest from both loans. How much did he
borrow from each lender?
0.723
4,1%
4,7.x. 3
4.2
100
825
6.2 3
C.1 (50or). 3
C.27
o, 042
4.2
Oo62
S.2
100
1
12-005)7900
305 0.061.3
3
il
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15 2) Franco borrows a total of $5.000 in student loan from two lenders. One charges 4.1% simple interest and the other charges 6.1% simple interest. He is not required to pay off the principal for 3 yr. However, at the end of 3 yr, he will owe a total of $825.00 for interest from both loans. How much did he borrow from each lender? 0.723 4,1% 4,7.x. 3 4.2 100 825 6.2 3 C.1 (50or). 3 C.27 o, 042 4.2 Oo62 S.2 100 1 12-005)7900 305 0.061.3 3 il

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Expert Answer

Step 1

Let x be the amount borrowed at 4.1% and y be the amount borrowed at 6.1%. Then

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(1) xy 5000

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Step 2

Also,

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Amount of Amount of Total interest Interest at 6.1%, Interest at 4.1%, x(0.041)(3)+y(0.061)(3)=825 0.123x 0.183y 825 (2) 123x183y 825000

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Step 3

From equation...

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123x 123y 615000 (3)

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