A bank loaned out $28,500, part of it at the rate of 15% annual interest, and the rest at 7% annual interest. The total interest earned for both loans was $3,115.00. How much was loaned at each rate?
A bank loaned out $28,500, part of it at the rate of 15% annual interest, and the rest at 7% annual interest. The total interest earned for both loans was $3,115.00. How much was loaned at each rate?
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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A bank loaned out $28,500, part of it at the rate of 15% annual interest, and the rest at 7% annual interest. The total interest earned for both loans was $3,115.00. How much was loaned at each rate?
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