SOLUTION: Sally's two student loans totaled $11,500. One of her loans was for 5% simple interest and the other at 7.5%. After one year Sally owed $712.50 in interest. What was the amount of

Question 414427: Sally's two student loans totaled $11,500. One of her loans was for 5% simple interest and the other at 7.5%. After one year Sally owed $712.50 in interest. What was the amount of each loan?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let the amount of the 5% loan =
The amount of the 7.5% loan is
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The amount of the 5% loan is $6,000
The amount of the 7.5% loan is $5,500
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