Answer :
Alfonso borrowed $750 from the bank with 4% simple interest and borrowed $1,750 from the bank with 3.5% simple interest.
How do we calculate the amount borrowed?
Let:
x = amount borrowed from the bank that charged 4% simple interest
y = amount borrowed from the bank that charged 3.5% simple interest
Therefore, we have:
x + y = 2,500 ............................... (1)
0.04x + 0.035y = 91.25 ............................. (2)
From equation (1), we have:
x = 2,500 - y ....................... (3)
Substituting equation (3) into (2) and solving for y, we have:
0.04(2,500 - y) + 0.035y = 91.25
100 - 0.04y + 0.035y = 91.25
100 - 0.005y = 91.25
-0.005y = 91.25 - 100
-0.005y = -8.75
y = -8.75 / -0.005
y = $1,750
Substituting for y in equation (3), we have;
x = 2,500 - 1,750
x = $750
Learn more about the amount borrowed here: brainly.com/question/17619427.
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