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Mathematics, 17.11.2020 06:10, cxttiemsp021
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7) You are applying for a mortgage, and part of the qualification process involves identifying
limits for the total amount of money you have borrowed and on the amount of interest you have
to pay. In addition to the mortgage you are hoping to get, you have a large chunk of student loans
to deal with. The total amount you can borrow is $180,000, and the bank would like to see a total
interest payment of, at most, $9300.
Your student loans were borrowed at 6% interest, and your mortgage will be at 5%.
How much money are you borrowing in each kind of loan?
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Answers: 2
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