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August 20, 2014

Homework Help: algebra

Posted by Jack on Sunday, February 20, 2011 at 1:26pm.

To buy both a new car and a new house, Tina sought two loans totalling $260,394. The simple interest rate on the first loan was 3.7%, while the simple interest rate on the second loan was 8.8%. At the end of the first year, Tina paid a combined interest payment of $22,611.73. What were the amounts of the two loans?

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