jackieanguiano1622 jackieanguiano1622

30-01-2020
Mathematics

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A bank loaned out $19000, part of it at the rate of 6 % per year and the rest at 14 % per year. If the interest received in one year totaled $1500, how much was loaned at 6 %

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kenlingdad kenlingdad

30-01-2020

Answer:

$14500

Step-by-step explanation:

$x loaned at 6%

interest: x * 0.06

Rest loaned at 0.14%

interest: (19000 - x) * 0.14

0.06x + (19000 - x) * 0.14 = 1500

0.06x - 0.14x + 2660 = 1500

1160 = 0.08x

x = 1160/0.08 = 14500

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