Ellice borrowed the following Federal student loans during college:
Freshman year: $11500 with 3 % origination fee
Sophomore year: $ 12300 with 5% origination fee
What was the average principal amount Ellice borrowed?
Select the correct answer below:
A. The average principal amount borrowed was $12,915
B. The average principal amount borrowed was $11,845.
C. The average principal amount borrowed was $12,380.
D. The average principal amount borrowed was $11,900.