Question 1158944

A bank loaned out $13,500, part of it at the rate of 9% annual interest, and the rest at 13% annual interest. The total interest earned for both loans was $1,635.00. How much was loaned at each rate?
<pre>Let the amount invested at 9% be N
Then amount invested at 13% = 13,500 - N
We then get: .09N + .13(13,500 - N) = 1,635
.09N + 1,755 - .13N = 1,635
.09N - .13N = 1,635 - 1,755
- .04N = - 120
Amount invested at 9%, or {{{highlight_green(matrix(1,5, N, "=", (- 120)/(- .04), "=", "$3,000"))}}}
Now, do you think you can find the amount invested at 13%?