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GarryVolchara [31]
3 years ago
8

A bank loaned out ​$20 comma 000​, part of it at the rate of 6 % per year and the rest at 11 % per year. If the interest receive

d in one year totaled ​$1500​, how much was loaned at 6 % question mark
Mathematics
1 answer:
pashok25 [27]3 years ago
8 0

Answer:

At 6% was loaned $14,000

Step-by-step explanation:

Let

x -----> amount loaned at 6%

($20,000-x) ----> amount loaned at 11%

we know that

The interest received on the amount loaned at 6% plus the interest received on the amount loaned at 11% must equal $1,500.

Remember that

6\%=6/100=0.06

11\%=11/100=0.11

so

0.06(x)+0.11(20,000-x)=1,500

0.06x+2,200-0.11x=1,500

0.11x-0.06x=2,200-1,500

0.05x=700

x=\$14,000

therefore

At 6% was loaned $14,000

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