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Michelle borrows a total of $2500 in student loans from two lenders. One charges 4.7% simple interest and the other charges 5.8% simple interest.
Michelle borrows a total of $2500 in student loans from two lenders. One charges 4.7% simple interest and the other charges 5.8% simple interest. She is not required to pay off the principal or interest for 4 yr. However, at the end of 4 yr, she will owe a total of $492 for the interest from both loans. How much did she borrow from each lender?
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Cost Accounting A Managerial Emphasis
Authors: Horngren, Srikant Datar, George Foster, Madhav Rajan, Christ
6th Canadian edition
978-0132893534, 9780133389401, 132893533, 133389405, 978-0133392883
