PRE CALC QUESTION

Question

A bank loaned out $6300, part of it at a rate of 9.4% per year and the rest of it at a rate of 6.1% per year. The total amount of interest owed to the bank at the end of one year was $467.25.

Find the amount of money that the bank loaned out at 9.4%.

Round your answer to the nearest cent (2 places after the decimal point), and do NOT type a dollar sign in the answer box.

Amount of money loaned at 9.4%: $

Answer 1

0.094x + 0.061(6300 - x) = 467.25

Solve for x.