# COLLEGE ALGEBRA

A bank loaned out \$120,000, part of it at a rate of 8% per year and the rest at the rate of 12% per year. if the interested received totaled \$11,000, how much was loaned at each rate?

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1. I guess this means interest in one year.
.08(x) + .12(120,000-x) = 11,000
solve for x

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2. .7638

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3. \$85000 and \$35000

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4. A bank loaned out \$12,000, part of it at the rate of 8% per year and the rest at the rate of 18% per year. If the interest received totaled \$1000, how much was loaned at 8%?

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