document.write( "Question 1185278: A bank loaned out $19,500, part of it at the rate of 4% annual interest, and the rest at 5% annual interest. The total interest earned for both loans was $940.00. How much was loaned at each rate \n" ); document.write( "

Algebra.Com's Answer #816076 by ikleyn(52788) $\"\"$ $\"About$

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\n" ); document.write( "A bank loaned out $19,500, part of it at the rate of 4% annual interest, and the rest at 5% annual interest.
\n" ); document.write( "The total interest earned for both loans was $940.00. How much was loaned at each rate
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document.write( "x = amount loaned at 5%;\r\n" );
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document.write( "(19500-x) = amount loaned at 4%.\r\n" );
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document.write( "The total annual bank's interest equation\r\n" );
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document.write( "    0.05x + 0.04*(19500-x) = 940  dollars.\r\n" );
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document.write( "From the equation\r\n" );
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document.write( "    x =  = 16000.\r\n" );
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document.write( "ANSWER.  $16000  loaned at 5%;  the rest,  19500-16000 = 3500  loaned at 4%.\r\n" );
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document.write( "CHECK.   0.05*16000 + 0.04*3500 = 940  dollars,  annual bank's interest.    ! 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
\n" ); document.write( "\n" ); document.write( "in this site.\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( "\n" ); document.write( "Save the link to this online textbook together with its description\r
\n" ); document.write( "
\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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