Question

After four years in college, Josie owes $9500 in student loans. The interest rate on the federal loans is 11% and the rate on the private bank loans is 7%. The total interest she owed for one year was $901.00. What is the amount of each loan?

Answer 1

Step-by-step explanation:

federal= $4180

(9500*0.11*4)

private=$2660

(9500*0.07*4)