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30 May, 05:58

After four years in college, Josie owes $9500 in student loans. The interest rate on the federal loans is 11% and the rate on the private bank loans is 7%. The total interest she owed for one year was $901.00. What is the amount of each loan?

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  1. 30 May, 08:14
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    Step-by-step explanation:

    federal = $4180

    (9500*0.11*4)

    private=$2660

    (9500*0.07*4)
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