The amount loaned at the interest rate of 11% is $3000.
The amount loaned at the interest rate of 7% is $16,500
<h3>What are the linear equations that represent the question?
a + b = 19500
equation 1</h3>
0.11a + 0.07b = 1485 equation 2
Where:
a = amount loaned at the interest rate of 11%
b = = amount loaned at the interest rate of 7%
<h3>How much was loaned at 11% and 7%</h3>
In order to determine how much was loaned at 7%, take the following steps:
Multiply equation 1 by 0.11:
.11a + 0.11b = 2145 equation 3
Subtract equation 2 from equation 3:
0.04b = 660
Divide both sides by 0.04:
b = 16,500
Subtract 16,500 from 19,500 :
19,500 - 16,500 = $3000
To learn more about interest, please check: brainly.com/question/26164549
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