Question

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 %

Answer 1

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