Solve the problem.Two bank loans, one for $6000 and the other for $8000, cost a total of $995 in interest for one year. The  loan has an interest rate 2% higher than the interest rate for the $8000 loan. Find the interest rate for each loan.

A. 7.5% for $6000 loan; 5.5% for $8000 loan
B. 8.75% for $6000 loan; 6.75% for $8000 loan
C. 7.75% for $6000 loan; 5.75% for $8000 loan
D. 8.25% for $6000 loan; 6.25% for $8000 loan


Answer: D

Mathematics

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