Mathematics, 12.08.2021 01:00 sakshimehta

A student takes out two loans totaling $3000 to help pay for college expenses. One loan is at 7% interest and the other is at 9% interest. The total interest earned in the first year is $233. Interest for both loans is compounded annually. Required:
a. If the first-year interest is $264, write a system of equations whose solution is the amount of each loan.
b. Find the amount of each loan.

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A student takes out two loans totaling $3000 to help pay for college expenses. One loan is at 7% int...

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