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 $2500, how much was loaned at 9 % question mark

How much of the $19,000 did the bank loan out at 9 %?

$11100 was loaned at 9%

Step-by-step explanation:

Let x represent the amount that the

bank loaned out at the annual rate of 9%.

Let y represent the amount that the

bank loaned out at the annual rate of 19%.

The bank loaned out $19,000, part of it at the rate of 9% per year and the rest at 19% per year. It means that

x + y = 19000

The interest on $x after 1 year would be

9/100 × x = 0.09x

The interest on $y after 1 year would be

19/100 × y = 0.19y

If the interest received in one year totaled $2500. It means that

0.09x + 0.19y = 2500- - - - - - - - - 1

Substituting x = 19000 - y into equation 1, it becomes

0.09(19000 - y) + 0.19y = 2500

1710 - 19000y + 0.19y = 2500

- 0.09y + 0.19y = 2500 - 1710

- 0.1y = - 790

y = - 790/- 0.1

y = $7900

x = 19000 - y = 19000 - 7900

x = $11100

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step-by-step explanation:

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