SOLUTION: Could you please help me with this question?
A bank loaned out $12,000, part of it at a rate of 8% per year and the rest at the rate of 18% per year. If the intrest received to
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Question 96675: Could you please help me with this question?
A bank loaned out $12,000, part of it at a rate of 8% per year and the rest at the rate of 18% per year. If the intrest received totaled $1000, how much was loaned at 8%?
I will be honest that I had no idea where to start with this problem. Thanks!!
Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
x(8%)+(12000-x)(18%)=1000 ... .08x+2160-.18x=1000 ... -.10x=-1160 ... x=11600
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