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Dima020 [189]
3 years ago
11

A bank loaned out ​$13,000​, part of it at the rate of 7% per year and the rest at 15% per year. If the interest received in one

year totaled ​$1500​, how much was loaned at 7%?
Mathematics
1 answer:
bogdanovich [222]3 years ago
5 0

Answer:

<u>Total yearly interest for the two accounts is: $1500</u>

Step-by-step explanation:

Total amount of money invested: $13000

x+y=13000,

Total yearly interest for the two accounts is: $1500

0.07*x+0.17*y=1500

x=13000-y

Substitute for x

0.07*(13000-y)+0.17*y=1500

Multiply out

910-0.07y+0.17*y=1500

Combine like terms.

0.1*y=590

Isolate y

y=$ 5900.00 at 17%

x=13000-y

Calculate x

x=$ 7100.00 at 7%

Check

0.07*7100+0.17*5900=1500

497+1003=1500

1500=1500

If this statement is TRUE and neither amount is negative then all is well

(Hope this helps can I pls have brainlist (Crown)☺️)

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