document.write( "Question 10496: PROBLEM: 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 interest received totaled $1000, how much was loaned at 8%?\r
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\n" ); document.write( "\n" ); document.write( "Ok I know that it should be set up with the I=prt formula. After that I'm not sure where to go. The book gives me the answer ($11,600 at 8%) but I need to know how to get that answer! Please help! Thanks! \n" ); document.write( "
Algebra.Com's Answer #5572 by Earlsdon(6294)\"\" \"About 
You can put this solution on YOUR website!
You don't really need the I = prt formula to solve this problem.\r
\n" ); document.write( "\n" ); document.write( "Try this:\r
\n" ); document.write( "\n" ); document.write( "Let x = amount loaned at 8% and ($12,000 - x) = amount loaned at 18%\r
\n" ); document.write( "\n" ); document.write( "Write the equation: (change the percents to decimals: 8% = 0.08 and 18% = 0.18)\r
\n" ); document.write( "\n" ); document.write( "(0.08)x + (0.18)($12,000 - x) = $1,000
\n" ); document.write( "This expresses the total amount of earned interest in terms of the amounts of the loan, x and ($12,000 - x}.\r
\n" ); document.write( "\n" ); document.write( "0.08x + $2,160 - 0.18x = $1,000 Simplify and solve for x.
\n" ); document.write( "-0.1x = -$1,160 Divide both sides by -0.1
\n" ); document.write( "x = $11.600 The amount loaned at 8% interest.\r
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