Intermediate Algebra

A bank loaned out 15,000part of it at a rate of 6% per year and the rest at 14%per year. If the interest received in one year totaled 1500, how much was loaned at 6%?

0.6x +14(15,000-x)=1500
0.6+2100-14=1500
1x=1500-2100
x=600
x=600/1
x=600 loaned @6%
15,000-600=14,400 loaned @14%

Is this correct

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  1. sloppy use of the decimal place
    and your solution makes absolutely no sense.

    if x is the amount loaned at 6% ...

    .06x + .14(15000-x) = 1500
    .06x + 2100 - .14x = 1500
    -.08x = -600
    x = 600/.08 = 7500

    So $ 7500 was loaned at 6% and $7500 at 14%

    check:
    .06(7500) + .14(7500) = 1500

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    posted by Reiny
  2. inccorect

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