SOLUTION: A man lends some money at 4% and an equal amount at 2.5%. If the income from the 2.5% loan is 7,500 less than the 4% loan, how much money did the man loan at each rate?
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Question 793825: A man lends some money at 4% and an equal amount at 2.5%. If the income from the 2.5% loan is 7,500 less than the 4% loan, how much money did the man loan at each rate? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount loaned @ 4% = amount loaned @ 2.5%
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given:
He loaned $500,000 at each rate
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check:
OK
