Posted by Julissa on Friday, November 21, 2008 at 12:59am.
Sarah’s two student loans totaled $12,000. One of her loans was at 6% simple interest and the other at 9%. After one year, Sarah owed $855 in interest. What was the amount of each loan?

Math algebra  PsyDAG, Friday, November 21, 2008 at 6:38am
Let X be one loan amount and Y the other.
X = $12,000  Y
.06X + .09Y = $855
Substitute ($12,000  Y) for X in the second equation and solve for Y. Put that value into the first equation to find X. Check by putting both values in the second equation.
I hope this helps. Thanks for asking.

Math algebra  Julissa, Friday, November 21, 2008 at 3:21pm
Thank you, that help a lot. It was very clear to understand

Math algebra  Anonymous, Friday, October 12, 2012 at 9:15am
Y= $4,500
X= $7,500
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