Answered

At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

A bank loaned out $18,000, part of it at the rate of 6% per year and the rest at 16% per
year. If the interest received in one year totaled $2000, how much was loaned at 6%?

Sagot :

kyliwolf100

Answer:

$6500

Step-by-step explanation

x = amount ($) loaned at 6%

then

18000-x = amount ($) loaned at 14%

.06x + .14(18000-x) = 2000

.06x + 2520-.14x = 2000

2520-.08x = 2000

-.08x = -520

x = $6,500

We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.