Ralph chase graduated from college with a dept of $20000. He had taken out two different kinds of loans : a government loan at 3.3% APR ( annual percentage rate, or interest after one year) and a private loan at 4.9% APR . If his total interest after one year was $804 , how much money did he borrow from each source ?

Ralph borrowed $11,000 from the government source and $9,000 from the private source.

Step-by-step explanation:

Let:

x = government loan

y = private loan

x + y = 20,000 (1)

x = 20,000 - y (2)

0.033x + 0.049y = 804 (3)

Substitute equation (2) into (3) for x, we have:

0.033(20,000 - y) + 0.049y = 804

660 - 0.033y + 0.049y = 804

0.016y = 804 - 660

0.016y = 144

y = 144 / 0.016 = $9,000

Substitute $9,000 for y in equation (2), we have:

x = 20,000 - 9,000 = $11,000

Therefore, Ralph borrowed $11,000 from the government source and $9,000 from the private source.

well it says right there your brother is 13; "your age". so lets keep it simple. you are 13 years old and there is no way to put this into any kind of equation without wanting to tear your hair out. who came up with this?