11. Mr. Jackson borrowed money from his bank and on his life insurance to start a business. His interest rate on the bank loan was 10%, and his rate on the insurance loan was 12%. If the total amount borrowed was $100,000 and
his total yearly interest payment was $11,200, how much did he borrow from the bank?
a. He borrowed $60,000 from the bank.
b. He borrowed $17,600 from the bank.
c. He borrowed $51,200 from the bank.
d. He borrowed $48800 from the bank.
e. He borrowed $40,000 from the bank.