hollis is paying off 2 student loans. One loan charges 7% interest, per year. The other loan charges 9 % interest per year. He owes $1500 more on the 7% loan than he does on the other. Last year he paid a total of $617.00 in interest. what does he owe on each loan

what is 2,980+135,618=???

let the amount on the smaller loan be $x
then the amount of the larger loan is $(x+1500)

then .07(x+1500.09x = 617
.
.
.
x=3200
so the smaller loan was $3200 and the larger loan was $4700

Check: .07 x 4700 + .09 x 3200 = 617

To solve the first question, here's how you can do it step by step:

1. Let's assume the amount on the smaller loan is x.
2. So, the amount on the larger loan would be (x + 1500) because Hollis owes $1500 more on the 7% loan.
3. Now, we'll set up an equation using the interest rates and the total interest paid last year:
0.07(x) + 0.09(x + 1500) = 617
(0.07x + 0.09x + 135) = 617 (expanded the equation)
0.16x = 482 (combined like terms)
4. Divide both sides of the equation by 0.16 to solve for x:
x = 3012.5
5. Therefore, the amount on the smaller loan is $3012.5 and the amount on the larger loan is $4512.5.

To solve the second question, you can do a simple addition:

2,980 + 135,618 = 138,598