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A bank loaned out ​$20 comma 000​, part of it at the rate of 6 % per year and the rest at 11 % per year. If the interest received in one year totaled ​$1500​, how much was loaned at 6 % question mark

Respuesta :

calculista

Answer:

At 6% was loaned $14,000

Step-by-step explanation:

Let

x -----> amount loaned at 6%

($20,000-x) ----> amount loaned at 11%

we know that

The interest received on the amount loaned at 6% plus the interest received on the amount loaned at 11% must equal $1,500.

Remember that

[tex]6\%=6/100=0.06[/tex]

[tex]11\%=11/100=0.11[/tex]

so

[tex]0.06(x)+0.11(20,000-x)=1,500[/tex]

[tex]0.06x+2,200-0.11x=1,500[/tex]

[tex]0.11x-0.06x=2,200-1,500[/tex]

[tex]0.05x=700[/tex]

[tex]x=\$14,000[/tex]

therefore

At 6% was loaned $14,000

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