November 26, 2015

Homework Help: MAth

Posted by Molly on Friday, July 29, 2011 at 9:58pm.

1. Johnís loans for his business total $155,000. One of the loans is a SBA loan at 11% interest; the other loan is a Community Business Partner loan whose interest is 6.5% After one year the loans accumulated $12,325 in interest. What was the amount of each loan?

I am not sure what equation needs to be used for this

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