Question 1185278
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A bank loaned out $19,500, part of it at the rate of 4% annual interest, and the rest at 5% annual interest. 
The total interest earned for both loans was $940.00. How much was loaned at each rate
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<pre>
x = amount loaned at 5%;

(19500-x) = amount loaned at 4%.


The total annual bank's interest equation


    0.05x + 0.04*(19500-x) = 940  dollars.


From the equation


    x = {{{(940-0.04*19500)/(0.05-0.04)}}} = 16000.


<U>ANSWER</U>.  $16000  loaned at 5%;  the rest,  19500-16000 = 3500  loaned at 4%.


<U>CHECK</U>.   0.05*16000 + 0.04*3500 = 940  dollars,  annual bank's interest.    ! Correct !
</pre>

Solved.


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It is a standard and typical problem on investments.


If you need more details,  &nbsp;or if you want to see other similar problems solved by different methods, &nbsp;look into the lesson 

&nbsp;&nbsp;&nbsp;&nbsp;- <A 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>

in this site.


You will find there different approaches &nbsp;(using one equation or a system of two equations in two unknowns), &nbsp;as well as 
different methods of solution to the equations &nbsp;(Substitution, &nbsp;Elimination).


Also, &nbsp;you have this free of charge online textbook in ALGEBRA-I in this site

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson>ALGEBRA-I - YOUR ONLINE TEXTBOOK</A>.


The referred lesson is the part of this online textbook under the topic &nbsp;"<U>Systems of two linear equations in two unknowns</U>".



Save the link to this online textbook together with its description


Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson


to your archive and use it when it is needed.