a bank loaned out 20000 part of it at the rate of 8 per year and the rest at 18 per year if the

Name: a bank loaned out 20000 part of it at the rate of 8 per year and the rest at 18 per year if the interest received in one year totaled 2000 how much was loaned at 8 69532
Uploaded: 2023-04-26T19:28:07-08:00
Duration: 1 min 54 s
Channel: Donna Densmore
Description: a bank loaned out 20000 part of it at the rate of 8 per year and the rest at 18 per year if the interest received in one year totaled 2000 how much was loaned at 8 69532

Question

Tyna Senecal · Accepted Answer

Step 1: Let x be the amount loaned at 8% and (20000 - x) be the amount loaned at 18%.

Question

A bank loaned out $20,000, part of it at the rate of 8% per year and the rest at 18% per year. If the interest received in one year totaled $2000, how much was loaned at 8%?

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