Question: A bank loaned out $ 2 0 , 0 0 0 , part of it at the rate of 8 % per year and the

A bank loaned out $20,000, part of it at the rate of 8% per year and the rest at 16% per year. If the interest received in one year totaled $2000, how much was loaned at 8%?
How much of the $20,000 did the bank loan out at 8%?
A bank loaned out $20,000, part of it at the rate

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Q:

1. A chemist needs to create a 45% HCl solution. (HCl is hydrochloric acid. A "45% HCl solution" contains 45% HCl and the other 55% is water.) How much of a 80% HCl solution must be mixed with 55 ml...

Q:

1. chemist needs to create a 45% HCl solution. (HCl is hydrochloric acid. A "45% HCl solution" contains 45% HCl and the other 55% is water.) How much of a 70% HCl solution must be mixed with 75 ml of...

Q:

Solve it quickly within 20 minutes. I will give two upvotes immediately. Please fast A bank loaned out $19,000, part of it at the rate of 7% per year and the rest at 15% per year. If the interest...

Q:

A bank loaned out $ 1 3 , 0 0 0 , part of it at the rate of 8 % per year and the rest at 1 8 % per year. If the interest received in one year totaled $ 1 5 0 0 , how much was loaned at 8 % ? How much...

Q:

A bank loaned out $11,000, part of it at the rate of 7% per year and the rest at 17% per year. If the interest received in one year totaled $1500, how much was loaned at 7%? How much of the $11,000...

Q:

A bank loaned out $ 11,000 , part of it at the rate of 9 % per year and the rest at 19 % per year. If the interest received in one year totaled $ 1500 , how much was loaned at 9 % ? How much of the $...

Q:

A bank loaned out $19,000, part of it at the rate of 9% per year and the rest at 19% per year. If the interest received in one year totaled $3000, how much was loaned at 9%? How much of the $19,000...

Q:

A bank loaned out $14,000, part of it at the rate of 9% per year and the rest at 19% per year. If the interest received in one year totaled $2000, how much was loaned at 9%? How much of the $14,000...

Q:

Question A bank loaned out $16,000, part of it at the rate of 7% per year and the rest at 17% per year. If the interest received in one year totaled $2000, how much was loaned at 7%? How much of the...

Q:

A bank loaned out $18,000, part of it at the rate of 8% per year and the rest at 18% per year. If the interest received in one year totaled $2500, how much was loaned at 8%? K How much of the $18,000...

Q:

How does our current party system impact elections? How can a minor party play a part in an election?

Q:

Please solve part-b correctly. I am confused about part-b. Calculate the Laplace transform of the periodic function shown below. 4(b) f(t) For the circuit shown below, determine vo(t) for t > 0....

Q:

such investments will enable the firm to pay debtholders what they desire, and any earnings above \ ( 8 \ % \ ) will go to stockholders. If a firm decides to make investments based on this logic it...

Q:

Questions Q1. Write a Python program to retrieve the first and last colors from the following list: color_list = ["red", "green", "white", "blue", "black") Q2. Given the following dictionary,...

Q:

=+Is the writing clear? If not, how can it be improved?

Q:

=+Is the tone of the writing appropriate for the audience?

Q:

=+Does the document provide this information in a well-organized way?