asked 5.9k views
5 votes
John received $9,000 in student loans part of the money he was able to borrow at 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

1 Answer

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

9000-2900=6100 at 8.25%
answered
User Suvo
by
8.4k points
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