Posted by Julissa on .
Micheal loaned two of his roommates a total of $4,000. He charged his first roommate 3% interest and his second roommate 4% interest. After six months he collected a total of $332 in interest. How much did he loan each friend?
Something is wrong with your numbers. Even if he loaned all the $4000 at the higher annual rate of 4%, he would only collect $80 in interest in 6 months
This question was posted by a classmate and we had to answer it. I would let my classmate know that something is wrong or missing. Thanks for your help drwls