#### Answer

$1160

#### Work Step by Step

If Linda Redding needs 2320 dollars for school and living expenses this semester and she applied for a loan that covers 50% of the amount, this means that loan will cover half of the cost. Therefore, the loan will be worth $.5\times2320=1160$ dollars.
50%$=50\div100=.5$
$2320\times.5=1160$ dollars