Answer:
5% interest loan is $9000;
6.5% interest loan is $8000.
Step-by-step explanation:
1.We assume 5% loan is x and 6.5% loan is y.
2.Two loan is total is $17000
So we can say: x+y = 17000
3.Each loans have its own interest
5% loan will be 0.05 * x
6.5% loan will be 0.065 * y
Both is 0.05x+0.065y = 970
(eg: 5% = 0.05, 6.5% = 0.065)
4.So we get:
x+y=17000
0.05x+0.065y=970
solve it will get x= 9000, y = 8000.
