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Andrew [12]
4 years ago
12

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?
Mathematics
1 answer:
Crank4 years ago
6 0
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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