Question

Please help. I’ll mark you as brainliest if correct!

Answer 1

Answer:

Since we are talking annual interest and, I assume a time period of 1 year:

The interest earned is the sum of the interest earned on the two loans separately

Let x = amount loaned at 14%

18,500-x = amount loaned at 12%

I = prt

p = x and 18500-x

r = 0.14 and 0.12

t = 1

2390 = 0.14x + 0.1(18500-x)

2390 = .14x + 1850 - 0.1x

x = 13500

x = $13,500 loaned at 14%

18500-x = $5,000 loaned at 12%

Answer 2

Answer:

$8,500 was loaned at 14%, and

$10,000 was loaned at 12%.

Step-by-step explanation:

Total loan: $18,500.

Part at 14%

Part at 12%

Let the part at 14% = x.

Let the part at 12% = y.

Equation of amount of loan:

x + y = 18500

x amount at 14% earns 14% of x = 0.14x interest.

y amount at 12% earns 12% of y = 0.12y interest.

Equation of interest charged:

0.14x + 0.12y = 2390

We have a system of equations.

x + y = 18500

0.14x + 0.12y = 2390

Multiply both sides of the first equation by -0.12. Write the second equation below it, and add the equations.

     -0.12x - 0.12y = -2220

(+)    0.14x + 0.12x = 2390

-------------------------------------

      0.02x             = 170

x = 170/0.02

x = 8500

x + y = 18,500

8500 + y = 18,500

y = 10,000

Answer:

$8,500 was loaned at 14%, and

$10,000 was loaned at 12%.