Question 1197008
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Hi  
A bank loaned out $19,500, part of it at the rate of 3% annual interest,
 and the rest 'x' at 8% annual interest. 
The total interest earned for both loans was $910.00. 
How much was loaned at each rate?
NOte:  Assigned x to the largest interest rate for ease of set up.
 .08x + .03(19500 - x) = 910
           .05x = {{{(910 - .03(19500))/.03}}}
              x = (910-585)/.05 = $6500 at 8%, $13,000 at .03%
.08*$6500 + .03*$13000 = $910  checks
Wish You the Best in your Studies.
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