Stuart pays back two student loans over a 4-yr period. One loan charges the equivalent of 3% simple interestand the other charges the equivalent of 5.5% simple interest. If the total amount borrowed was $32,000 andthe total amount of interest paid after 4 yr is $4,640, find the amount borrowed from each loan. a. 8,000 at 3% and 24,000 at 5.5%b. 11,000 at 3% and 21,000 at 5.5%c. 21,000 at 3% and 11,000 at 5.5%d. 24,000 at 3% and 8,000 at 5.5%

d. 24,000 at 3% and 8,000 at 5.5%

Step-by-step explanation:

Let the principal for the 3% loan be and that for the 5.5% loan be . Let their respective interests be and .

Then

From the question, the sum of the interests is 4640.

Also, the total amount borrowed is 32000.

To solve the last two equations simultaneously, multiply the second by 0.12 and subtract from the first (this eliminates ).

From ,

Hence, $24,000 was borrowed at 3% and $8,000 was borrowed at 5.5%.

215.92 dollars is the answer

step-by-step explanation: