Solve the problem.
Franco borrows a total of $4900 in student loan from two lenders. One charges 4.4% simple interest and the other charges 5.8% simple interest. He is not required to pay off the principal for 3yr. However, at the end of 3yr, he will owe a total of $789.60 for interest from both loans. How much did he borrow from each lender?
She borrowed $3400 at 4.4% and $1500 at 5.8%.
She borrowed $1100 at 4.4% and $3800 at 5.8%.
She borrowed $3800 at 4.4% and $1100 at 5.8%.
She borrowed $1500 at 4.4% and $3400 at 5.8%.
Solve the problem
Franco borrows a total of $4900 in student loan from two lenders.One charges 4.4% simple interest and the other charges 5.8% simple interest. He is not required to pay off the principal for 3 yr.However,at the end of 3 yr, he will owe a total of$789.60 for interest from both loans.How much did he borrow from each lender?
OShe borrowed $3400 at 4.4%and $1500 at 5.8%
O She borrowed $1100 at 4.4% and$3800 at 5.8%
O She borrowed $3800 at 4.4% and $1100 at 5.8%
She borrowed $1500 at 4.4%and $3400 at 5.8%