SOLUTION: Chuck receives loans totaling $12,000 from two banks. One bank charges 7.5% annual interest and the second bank charges 6% annual interest in one year. How much was loaned at each

SOLUTION: Chuck receives loans totaling $12,000 from two banks. One bank charges 7.5% annual interest and the second bank charges 6% annual interest in one year. How much was loaned at each

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Question 997921: Chuck receives loans totaling $12,000 from two banks. One bank charges 7.5% annual interest and the second bank charges 6% annual interest in one year. How much was loaned at each bank?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Let Chuck take x at 7.5%
so he will borrow (12000-x) at 6%

7.5%x + (12000-x) * 6% =

What interest did he pay?
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