document.write( "Question 1150711: A bank loaned out $24,500, part of it at the rate of 9% annual interest, and the rest at 14% annual interest. The total interest earned for both loans was $3,180.00. How much was loaned at each rate?
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Algebra.Com's Answer #772130 by ikleyn(52817) $\"\"$ $\"About$

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document.write( "Let x be the loaned amount at 14% interest rate.\r\n" );
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document.write( "Then the amount loaned at 9% rate is  (24500-x) dollars.\r\n" );
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document.write( "The setup equation is\r\n" );
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document.write( "    0.14x + 0.09*(24500-x) = 3180   dollars (the total interest amount).\r\n" );
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document.write( "From the equation\r\n" );
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document.write( "    x =  = 19500.\r\n" );
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document.write( "ANSWER.  $19500 was loaned at 14% and the rest, 24500-19500 = 5000 dollars, was loaned at 9%.\r\n" );
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document.write( "CHECK.   0.14*19500 + 0.09*5000 = 3180 dollars.   ! Correct !\r\n" );
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\n" ); document.write( "\n" ); document.write( "It is a standard and typical problem on investments.\r
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\n" ); document.write( "\n" ); document.write( "If you need more details, or if you want to see other similar problems solved by different methods, look into the lesson \r
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\n" ); document.write( "\n" ); document.write( "You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
\n" ); document.write( "different methods of solution to the equations (Substitution, Elimination).\r
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\n" ); document.write( "\n" ); document.write( "Also, you have this free of charge online textbook in ALGEBRA-I in this site\r
\n" ); document.write( "\n" ); document.write( " - ALGEBRA-I - YOUR ONLINE TEXTBOOK.\r
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\n" ); document.write( "\n" ); document.write( "The referred lesson is the part of this online textbook under the topic \"Systems of two linear equations in two unknowns\".\r
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\n" ); document.write( "\n" ); document.write( "Save the link to this online textbook together with its description\r
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\n" ); document.write( "\n" ); document.write( "Free of charge online textbook in ALGEBRA-I
\n" ); document.write( "https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson\r
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\n" ); document.write( "\n" ); document.write( "to your archive and use it when it is needed.\r
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