A bank loaned out
$20,000,
part of it at the rate of
8 %8%
per year and the rest at
18 %18%
per year. If the interest received in one year totaled
$3000,
how much was loaned at 8 % question mark

Question

A bank loaned out ​$20,000​, part of it at the rate of 8 %8% per year and the rest at 18 %18% per year. If the interest received in one year totaled ​$3000​, how much was loaned at 8 % question mark

Mark M. · Accepted Answer

x represents the amount at 18%20000 - x represents the amount at 8%0.18x + 0.08(20000 - x) = 3000Can you solve for x and answer?

A bank loaned out $20,000, 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 $3000, how much was loaned at 8 % question mark

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A bank loaned out ​$20,000​, 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 ​$3000​, how much was loaned at 8 % question mark