SOLUTION: A bank loaned out $14,000, part of it at the rate of 9% per year and the rest at 17% per year. If the interest received in one year is $2000, how much was loaned at 9%?

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Question 1050173: A bank loaned out $14,000, part of it at the rate of 9% per year and the rest at 17% per year. If the interest received in one year is $2000, how much was loaned at 9%?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
A bank loaned out $14,000, part of it at the rate of 9% per year and the rest at 17% per year. If the interest received in one year is $2000, how much was loaned at 9%?
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Equations:
n + s = 14000
9n + 17s = 200000
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Modify for elimination:
17n + 17s = 17*14000
9n + 17s = 200000
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Subtract and solve for "n"::
8n = 38000
n = $4750 (amt invested at 9%)
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Cheers,
Stan H.
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