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College Algebra

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A bank loaned out 64000. Part of the rate at 14% per year and the rest of rate at 4% per year. if the interest received was 5160, how much was loaned at 14%? I'm not too sure how to approach this problem. Thanks in advance for the help.

  • College Algebra - ,

    P= part of the rate at 14 percent.

    P*.14+(64000-P).04=5160

    solve for P

  • College Algebra - ,

    Understood, so just to clarify the solution is 26000 at 14% correct? thanks for your time.

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