SOLUTION: a bank loaned out 12000 part of it at the rate of 8 per year and the rest at 18% per year. if the interest in one year totaled $3000, how much was loaned at 8%?
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Question 908612: a bank loaned out 12000 part of it at the rate of 8 per year and the rest at 18% per year. if the interest in one year totaled $3000, how much was loaned at 8%?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
x amount at 18%
.18x + .08(12000-x) = 3000
x = (3000-960)/.10, amount at 18%
Calculate x and the amount at 8% =
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