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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%,
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 12%. If the total amount borrowed was $100,000 and his total yearly interest payment was $10,700, how much did he borrow from the bank? $ ?
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