A Bank loaned out $13,000 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 $1,500 how much was loaned at 9%

Answer 1

(.09) x + (13000-x)(.19 = 1500

-1x = 1500- 2470 = -970.

x = $9700 invested at 9%

$3300 invested at 19%

.09(9700) + .19(3300) = 873+627 = 1500