Mathematics
mackmain345
2017-08-24 21:09:45
John received $9,000 in student loans. Part of the money he was able to borrow 7% simple interest, but on the rest of the money he was charged 8.25% simple interest. At the end of the year he owed $706.25 in interest. How much did John borrow at each rate?
ANSWERS
kkthompson117
2017-08-24 22:55:31

0.07x+0.0825(9000-x)=706.25 Solve for x X=2900 at 7% 9000-2900=6100 at 8.25%

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