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August 30, 2014

Homework Help: Math

Posted by Heather on Saturday, February 13, 2010 at 2:30pm.

A customer purchased a car and financed $16,000. The customer borrowed part of the money from a bank charging 10% annual interest and the rest from a credit union at 8% annual interest. If the total interest for the year was $1,390 how much was borrowed from the bank and how much was borrowed from the credit union?

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