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a bank loaned out $16,000, 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%?

Answer :

Answer:

$3800

Step-by-step explanation:

Let A be amount loaned at 8%, then 16000 - A is amount loaned at 18%.

Total Interest = Interest from 8% + Interest from 18%

$2500 = (.08*A) + (.18*(16000-A))

-380 = -.1A

A = $3800

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