Enrique borrowed $23,500 to buy a car. he pays his uncle 2% interest on the $4,500 he borrowed from him, and he pays the bank 11.5% interest on the rest. what average interest rate does he pay on the total $23,500? (round your answer to the nearest tenth of a percent.)

He pays average 9.7% interest on the total $23,500.

Step-by-step explanation:

Enrique borrowed total $23,500 to buy a car.

Suppose, he pays average interest on the total $23,500.

So, the total amount of interest will be:   dollars.

He borrowed $4,500 from his uncle and pays 2% interest for this.

So, the amount of interest paid to his uncle dollars.

He borrowed the rest amount which is ($23,500- $4,500) or $19,000 from the bank and pays 11.5% interest for it.

So, the amount of interest paid to the bank dollars.

Thus, the equation will be.........

(Rounded to the nearest tenth)

So, he pays average 9.7% interest on the total $23,500.