Cole's two student loans totaled $31000. 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?

Answer 1

First loan : x
second loan : 31000-x

.028x + .045(31000-x) = 1024.40

solve for x
I would first multiply by 1000 to get rid of the decimals,
take it from there

Answer 2

15,000