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9 July, 12:28

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

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  1. 9 July, 12:36
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    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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