A bank loaned out $12,000, part of it at the rate of 8% per year and the

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A bank loaned out $12,000, part of it at the rate of 8% per year and the rest at the rate of 18% per year. If the interest received totaled $1000, how much was loaned at 8%?

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College Algebra

ISBN: 9780135226865

11th Edition

Authors: Michael Sullivan, Michael Sullivan III

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A bank loaned out $12,000, part of it at the rate of 8% per year and the

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Let x represent the amount of money loaned at 8 Then 12000x re...View the full answer

College Algebra

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