OpenStax, Elementary Algebra 2e §3.3 Solve Mixture Applications · Exercise 44 · Algebra · Algebra word problems
Solve Mixture Applications · Exercise 44
Solve each mixture word problem.
Liam borrowed a total of $35,000 to pay for college. He pays his parents 3% interest on the $8,000 he borrowed from them and pays the bank 6.8% on the rest. What average interest rate does he pay on the total $35,000? (Round your answer to the nearest tenth of a percent.)
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OpenStax, Elementary Algebra 2e · §3.3 Solve Mixture Applications · Exercise 44
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