Asked by Chris

solving applied problems two equations (Coles two student loans totaled $31,000. One of his loans was at 2.8% simple interest and the other at 4.5%. After one year, Cole owed $1024.40 in interest. What was the amount of each loan?)
Answered by Reiny
loan at 2.8% --- $ x
loan at 4.5 % ---- $ 31000-x

solve for x ....

.028x + .045(31000-x = 1024.40
times 1000
28x + 45(31000-x) = 1024400
etc
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