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Economics - Financial Markets
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OpenStudy (anonymous):
To buy both a new car and a new house, Tina sought two loans totaling $332,888. The simple interest rate on the first loan was 8.9%, while the simple interest rate on the second loan was 6.0%. At the end of the first year, Tina paid a combined interest payment of $20,230.51. What were the amounts of the two loans?
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