Question 1196177
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A bank loaned out ​$19,000​, part of it at the rate of 7% per year and the rest at per 17% year. 
If the interest received in one year totaled ​$2500​, how much was loaned at 7%?
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<pre>
Let x be the amount (in dollars) loaned at 17%.

Then the amount loaned at 7% is (19,000-x) dollars (the rest).


Having it, write the money equation for the combined annual interest

    0.17x + 0.07*(19000-x) = 2500  dollars.


Simplify and find x

    0.17x + 1330 - 0.07x = 2500

    0.17x - 0.07x = 2500 - 1330

        0.1x      =    1170

            x     = {{{1170/0.1}}} = 11700.


<U>ANSWER</U>.  $11700 was loaned at 17%,  the reast  19000 - 11700 = 7300 dollars was loaned at 7%.

<U>CHECK</U>.   0.17*11700 + 0.07*7300 = 2500 dollars, total annual interest.   ! Correct !
</pre>

Solved.


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It is a standard and typical problem on investments/loaning.


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.