Answer:
1875
Step-by-step explanation:
The bank loaned part of the $25,500 at a 6% interest rate. We will call this loan amount x. Then the rest of the 25,500 was loaned at a 9% interest rate. We will define this amount as 25,500 - x. We also know that the total interest earned was $1,875. With this information, we form the equation:
.06(x) + .09(25500 - x) = 1,875
.06x + (2,295 - .09x) = 1,875
Simplify the above equation to:
-.03x + 2,295 = 1,875
-.03x = -420
x = 14,000
Since x is the amount loaned at the 6% interest rate, we know that $11,500 was loaned at a 9% interest rate. (25,500 - 14,000 =11,500)
To figure out the amount loaned at 6%, subtract 11,500 from 25,500 ... this gives us 14,000. This means $14,000 was loaned at 6%.
To check:
14,000 x .06 = 840
11,500 x .09 = 1035
840 + 1035 = 1875
