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31-01-2020
Mathematics

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Your cousin borrowed $6000, some on a home-equity loan at an interest rate of 9.5% and the rest on a consumer loan at an interest rate of 11%. Her total interest paid was $645. How much did she borrow at each rate?

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31-01-2020

Answer:

I=PRT 9.5% in decimal form is .095=11 times rate times tax but we don't know what the tax is.

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