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?
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Home » Mathematics » 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.