Concept explainers
To calculate: The amount borrowed by the student at each rate.
Answer to Problem 83E
The amount borrowed at
Explanation of Solution
Given information: A college student borrowed
Formula used:
Use the formula of interest
where
Calculation:
Assume the amount borrowed at
As per given the amount borrowed at
The total amount borrowed is
The total interest for all the amounts is the sum of interests for each amount. Therefore,
Substitute the values in the formula
Further simplify
Therefore the amount borrowed at
The amount borrowed at
The amount borrowed at
Therefore the amount borrowed at
Chapter 7 Solutions
PRECALCULUS W/LIMITS:GRAPH.APPROACH(HS)
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