Dsdsd S.

asked • 09/15/18

Rate and interest

Mr. Jackson borrowed money from his bank and on his life insurance to start a business. His interest rate on the bank loan was 10%, and his rate on the insurance loan was 14%. If the total amount borrowed was $100,000 and his total yearly interest payment was $12,200, how much did he borrow from the bank?

1 Expert Answer

By:

Andy C. answered • 09/15/18

Math/Physics Tutor

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