1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SOVA2 [1]
1 year ago
5

A bank loaned out $8200, part of it at a rate of 7.9% per year and the rest of it at a rate of 7.4% per year. The total amount o

f interest owed to the bank at the end of one year was $614.67.
Find the amount of money that the bank loaned out at 7.9%.
Mathematics
1 answer:
Lady bird [3.3K]1 year ago
3 0

The amount that the bank loaned out at 7.9% is $1,574.00

How do represent the amounts lent at different rates?

On the assumption that x amount was loaned at 7.9% and that the remaining amount, (8,200-x) was loan out at 7.4%, we can determine the interest charged on each loan as the loan multiplied by the interest rate

interest on 7.9% loan=7.9%*x=0.079x

interest on 7.4% loan=7.4%*(8200-x)

interest on 7.4% loan=606.80-0.074x

total interest=0.079x+606.80-0.074x

total interest=0.005x+606.80

total interest on loans=614.67

614.67=0.005x+606.80

614.67-606.80=0.005x

7.87=0.005x

x=7.87/0.005

x=amount loaned at 7.9%=$1,574.00

y=$8200-$1574

y=$6,626.00

Find out more about bank loan interest rate on:brainly.com/question/20796174

#SPJ1

You might be interested in
5/8 + 3/4 / -2/3- 5/6.
ElenaW [278]

Answer:

-5/16 or -0.3125

Step-by-step explanation:

3 0
3 years ago
Read 2 more answers
Can someone answer this question please please answer it correctly I’d it’s correct I will mark you brainliest please help me
AVprozaik [17]

Answer:

6.28

Step-by-step explanation:

Area=πx2^2

Area=4π

Area=4π/2

Area=2π

Area=6.283185307

Area=6.28

3 0
3 years ago
Adult tickets to the fall play cost $8 and student tickets cost $4. The drama class sold 30 more adult tickets than student tick
pashok25 [27]
The drama class sold 100 adult tickets?????

3 0
3 years ago
Tyrone has $500 in his savings account. He wants to save more money. He is looking at two investment plans. Under plan A, he wil
Marrrta [24]

Answer:

\$522.78

Step-by-step explanation:

Let

x ---> the number of years

y ---> the amount in the account balance

Plan A

we have a linear equation of the form

y=mx+b

where

The slope is equal to

m=\$100\ per\ year

The y-intercept or initial value is

b=\$500

substitute

y=100x+500

For x=10 years

substitute

y=100(10)+500=\$1,500

Plan B

we have a exponential growth function of the form

y=a(1+r)^x

where

a=\$500\\r=15\%=15/100=0.15

substitute

y=500(1+0.15)^x

y=500(1.15)^x

For x=10 years

substitute

y=500(1.15)^{10}=\$2,022.78

Find the difference of the two account balances after 10 years

\$2,022.78-\$1,500=\$522.78

3 0
3 years ago
a. About how much does a textbook weigh? b. About how much does a car weigh? c. About how much does a mosquito weigh? d. About h
Oksana_A [137]

Answer:

a. About 0.907185 kg to 2.72155 kg

b. About 1857 kg

c. About 0.005 g

d. About 0.75 feet

e. About 15 to 16 feet

Step-by-step explanation:

These are all estimated measurements and may vary across different regions and jurisdictions.

6 0
3 years ago
Other questions:
  • Express using algebra. Jane is 3 years older than Mary, and Mary is twice as old as Kay. If Kay is x years old, how old is Jane?
    6·1 answer
  • What is 33 percent in simplest form?
    15·1 answer
  • Marla is looking for a new car. She has test-driven two cars but can only purchase one. The probability that she will purchase c
    6·2 answers
  • FIND THE SCALE FACTOR! PLEASE HELP ME
    6·1 answer
  • Three hens can lay 3 eggs in 3 days.How many hens would lay 12 eggs in 12 days?
    9·1 answer
  • Simplify 5 to the 5th over 5 to the 8th.
    9·1 answer
  • Use the Associative Property of Addition to write an expression equivalent to (u + 2) + 8.
    12·1 answer
  • Solve for the unknown variable "x" in the following linea equation: 2 ( 2x + 20) = 80 X =
    13·1 answer
  • How do the y-values in the table grow? The y-values increase by a factor of 49 for each x increase of 1. The y-values increase b
    6·1 answer
  • Charles would like to accumulate $340,000 for her retirement in 10 years. If she is promised a rate of 4.29% compounded quarterl
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!