A bank loaned out $28,000 part of it at the rate of 13% annual interest, and the rest at 10% annual interest. The total interest earned for both loans was 3,190. How much was loaned at each rate?

Answer 1

.13x + .10(28000-x) = 3190

.13x -.10x = 3190 -2800

.03x = 390

x = 390/.03 = 130/.01

= $13,000 invested at 13%

and $15,000 invested at 10%