Question

student takes out two loans 1 at 10% and the other at 12 percent interest the 10 percent loan is $2000 more then the 12% loan and the total interest for one year is $430 how much is each loan?

Answer 1

I1=.1(M+2000)
I2=.12(M)

I1+I2=430=.1M+200+.12M

solve for M, then M+2000