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December 22, 2014

Homework Help: Intermediate Algebra

Posted by Kimberly on Thursday, July 28, 2011 at 11:54pm.

To buy both a new car and a new house, Tina sought two loans totalling $78,825. The simple interest rate on the first loan was 0.2%, while the simple interest rate on the second loan was 5.0%. At the end of the first year, Tina paid a combined interest payment of $2817.23. What were the amounts of the two loans?

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