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Simplify 30[2 x (16/8)]
1 answer:
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Answer:
$6500
Step-by-step explanation:
A bank loaned out $18,000
Let x be the part of amount at the rate of 6 % per year
So, Remaining amount = 18000-x
So, the part of amount at the rate of 14 % per year = 18000-x
the interest received in one year totaled $2000
Formula :
P is the principal
R = rate of interest
T = Time
SI at 6%+SI at 14% = 2000
Hence the bank loan out at 6% is $6500