document.write( "Question 1161440: A bank loaned out $27,000, part of it at the rate of 7% annual interest, and the rest at 13% annual interest. The total interest earned for both loans was $2,820.00. How much was loaned at each rate?
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Algebra.Com's Answer #784992 by ikleyn(52802) $\"\"$ $\"About$

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document.write( "Let x be the amount at 13%;\r\n" );
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document.write( "then the amount at 7% is the rest (27000-x) dollars.\r\n" );
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document.write( "The equation for the total interest is\r\n" );
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document.write( "    0.13x + 0.07*(27000-x) = 2820  dollars.\r\n" );
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document.write( "From this equation,\r\n" );
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document.write( "    x =  = 15500  dollars.\r\n" );
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document.write( "ANSWER.  $15500 at 13% and the rest, (27000-15500) = 11500 dollars at 7%.\r\n" );
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document.write( "CHECK.   0.13*15500 + 0.07*11500 = 2820 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
\n" ); document.write( "\n" ); document.write( " - Using systems of equations to solve problems on investment\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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