document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1197008>Question 1197008</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A bank loaned out $19,500, part of it at the rate of 3% annual interest, and the rest at 8% annual interest. The total interest earned for both loans was $910.00. How much was loaned at each rate?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #830056 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52777)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=830056\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .<BR>\n" );
document.write( "A bank loaned out $19,500, part of it at the rate of 3% annual interest, <BR>\n" );
document.write( "and the rest at 8% annual interest. The total interest earned for both loans <BR>\n" );
document.write( "was $910.00. How much was loaned at each rate?<BR>\n" );
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document.write( "x = amount loaned at 8%;\r\n" );
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document.write( "(19500-x) = amount loaned at 3%.\r\n" );
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document.write( "The total annual bank's interest equation\r\n" );
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document.write( "    0.08x + 0.03*(19500-x) = 910  dollars.\r\n" );
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document.write( "Simplify and find x\r\n" );
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document.write( "    0.08x + 0.03*19500 - 0.03x = 910\r\n" );
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document.write( "    0.08x - 0.03x = 910 - 0.03*19500\r\n" );
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document.write( "         0.05x    =     325\r\n" );
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document.write( "             x    =     325/0.05 = 6500.\r\n" );
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document.write( "<U>ANSWER</U>.  $6500 loaned at 8%  and  the rest, 19500-6500 = 13000 dollars loaned at 3%.\r\n" );
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document.write( "<U>CHECK</U>.   0.08*6500 + 0.03*13000 = 910 dollars, total interest earned.  ! Correct !\r\n" );
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document.write( "Solved.\r<BR>\n" );
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document.write( "It is a standard and typical problem on investments.\r<BR>\n" );
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document.write( "If you need more details,  &nbsp;or if you want to see other similar problems solved by different methods, &nbsp;look into the lesson \r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;- <A  rel=nofollow HREF=https://www.algebra.com/algebra/homework/coordinate/lessons/Using-systems-of-equations-to-solve-problems-on-investment.lesson>Using systems of equations to solve problems on investment</A>\r<BR>\n" );
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document.write( "in this site.\r<BR>\n" );
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document.write( "You will find there different approaches &nbsp;(using one equation or a system of two equations in two unknowns), &nbsp;as well as <BR>\n" );
document.write( "different methods of solution to the equations &nbsp;(Substitution, &nbsp;Elimination).\r<BR>\n" );
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document.write( "Also, &nbsp;you have this free of charge online textbook in ALGEBRA-I in this site\r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;- <A  rel=nofollow HREF=https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson>ALGEBRA-I - YOUR ONLINE TEXTBOOK</A>.\r<BR>\n" );
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document.write( "The referred lesson is the part of this online textbook under the topic &nbsp;\"<U>Systems of two linear equations in two unknowns</U>\".\r<BR>\n" );
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document.write( "Save the link to this online textbook together with its description\r<BR>\n" );
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document.write( "Free of charge online textbook in ALGEBRA-I<BR>\n" );
document.write( "https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson\r<BR>\n" );
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document.write( "to your archive and use it when it is needed.\r<BR>\n" );
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document.write( "The solution in the post by @ewatrrr is incorrect.\r<BR>\n" );
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document.write( "She fixed it after seeing my post.\r<BR>\n" );
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