Michelle borrows a total of $2500 in student loans from two lenders. One charges 4.2% simple interest and the other charges 6.8% simple interest. She is not required to pay off the principal or interest for 3 yr. However, at the end of 3yr, she will owe a total of $354 for the interest from both loans. How much did she borrow from each lender?

She borrowed $ 2000 from the 4.2% lender and $ 500 from the 6.8% lender.

Since Michelle borrows a total of $ 2500 in student loans from two lenders, and one charges 4.2% simple interest and the other charges 6.8% simple interest, and she is not required to pay off the principal or interest for 3 yr, but at the end of 3yr, she will owe a total of $ 354 for the interest from both loans, to determine how much did she borrow from each lender, the following calculation must be performed:

Therefore, she borrowed $ 2000 from the 4.2% lender and $ 500 from the 6.8% lender.

Learn more about maths in link

Let x represent amount borrowed at 4.2% and y represent amount invested at 6.8%.

We have been given that Michelle borrows a total of $2500 in student loans from two lenders. We can represent this information in an equation as:

We are also told that at the end of 3 years, she will owe a total of $354 for the interest from both loans.

Amount of interest earned at a rate of 4.2% in 3 years would be .

Amount of interest earned at a rate of 6.8% in 3 years would be .

We can represent this information in an equation as:

Upon substituting equation (1) in equation (2), we will get:

Therefore, Michelle borrowed $2000 at 4.2%.

Upon substituting in equation (1), we will get:

Therefore, Michelle borrowed $500 at 6.8%.

dont think so

step-by-step explanation: