SOLUTION: A bank loaned out $58,000, part of it at a rate of 13% per year and the rest at a rate of 8% per year. If the interest received was $6290, how much was loaned at 13%?

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Question 969677: A bank loaned out $58,000, part of it at a rate of 13% per year and the rest at a rate of 8% per year. If the interest received was $6290, how much was loaned at 13%?
Answer by lwsshak3(11628) About Me  (Show Source):
You can put this solution on YOUR website!
A bank loaned out $58,000, part of it at a rate of 13% per year and the rest at a rate of 8% per year. If the interest received was $6290, how much was loaned at 13%?
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let x=amt loaned out at 13%
58000-x=amt loaned out at 8%
..
13%x+8%(58000-x)=6290
.13x+4640-.08x=6290
.05x=1650
x=33000
how much was loaned at 13%? $33,000