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a bank loaned out 13,000 part of it at the rate of 6% per year and the rest at 16% per year. If the interest received in one year totaled $1500, how much was loaned at 6%

Respuesta :

$5800 was loaned at 6%

Calculation on percentage interest

Let the amount loaned at 6% be x

Amount loaned at 16% is 13000 - x

Total interest = $1500

Interest at 6% = 0.06x

Interest at 16% = 0.16(13000-x)

Interest at 6%   +  Interest at 16% = 1500

0.06x  +  0.16(13000 - x)  =  1500

0.06x + 2080 - 0.16x  =  1500

0.16x - 0.06x  =  2080 - 1500

0.1x  =  580

x   =   580/0.1

x  =  5800

$5800 was loaned at 6%

Learn more on percentage interest here: https://brainly.com/question/25545513

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