A bank loaned out $20,000, part of it at the rate of 10% annual interest, and the rest at 4% annual interest. The total interest earned for both loans was $1,460.00. How much was loaned at each rate? was loaned at 10% and was loaned at 4%.

A bank loaned out $20,000, part of it at the rate of 10% annual interest, and the rest at 4% annual interest. The total interest earned for both loans was $1,460.00. How much was loaned at each rate? was loaned at 10% and was loaned at 4%.

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter4: Rational Expressions

Section4.CM: Cumulative Review Problem Set

Problem 48CM

See similar textbooks

Related questions

Q: You invested $6000 between two accounts paying 2% and 8% annual interest, respectively. If the…

Q: You invested $11,000 in two accounts paying 7% and 8% annual interest, respectively. If the total…

Q: You invested $8000 between two accounts paying 3% and 9% annual interest, respectively. If the…

Q: A realtor bought a group of lots for $90,000. He then sells them at a gain of $3,750 per lot and has…

A: Let's assume there are n lots bought by the realtor So the cost price for a lot will be $90,000/n…

Q: A bank loaned out 7,500, part of it at the rate of 11% annual interest, and the rest at 12% annual…

A: Let x be the amount loaned at 11% annual interest and 7500-x be the remaining amount loaned at 12%…

Q: Karen Waugtal invested some money at 9% annual simple interest and $250 more than that amount at 10%…

A: If amount P is invested at r% simple interest then the interest obtained at the end of a year equals…

Q: A man invested $14,000, some of it at 7% and some at 10% annual interest. The annual income from the…

A: Let he invested $ x in 7%. so he must invest $ (14000-x) in 10%

Q: Joy invests a total of $22,000 in two accounts. The first account earned an annual interest rate of…

A: Joy invests a total of $22,000 in two accounts. The first account earned an annual interest rate of…

Q: At a pizza eating competition, Davonne ate four more than twice as many slices as the runner-up. If…

Q: You invested $20,000 in two accounts paying 7% and 9% annual interest. If the total interest earned…

Q: You invested $7000 in two accounts paying 6% and 8% annual interest. If the total interest earned…

Q: Larry Mitchell invested part of his $17,000 advance at 4% annual simple interest and the rest at 5%…

Q: You invested $5000 between two accounts paying 2% and 9% annual interest, respectively. If the total…

Q: Ms. Smith invested $11,000 in two accounts, one yielding 6% interest and the other yielding 9%. If…

A: Answer is below

Q: Peter spent $40 on a textbook and -of the remainder on a pen. He still had -of his original amount…

Q: A concert promoter needs to take in $760,000 on the sale of $16,000 tickets. If the promoter charges…

A: Given:A concert promoter needs to take in $760,000 on the sale of $16,000 tickets and the promoter…

Q: Larry Mitchell invested part of his $29,000 advance at 2% annual simple interest and the rest at 6%…

A: Given: Total amount invested is, P=$29,000. First rate of interest, r1=2%. Second rate of interest,…

Q: You invested $23,000 in two accounts paying 8% and 9% annual interest, respectively. If the total…

A: To solve the given question we first set up an equation with the help of a unknown variable ,then we…

Q: earned

Q: you invested $3000 between two accounts paying 6% and 9% annual interest, respectively. If the total…

Q: Robert invested a total of $5,900 at two separate banks. One bank pays simple interest at a rate of…

Q: Santa assigned Mrs. Claus four hours of housework, and Rudolph gave her five hours of outside work.…

A: Santa assigned Mrs. Claus four hours of housework, and Rudolph gave her five hours of outside work.…

Q: Bruce Blossum invested a sum of money at 10% annual simple interest and invested twice that amount…

A: Let the amount invested at 10% annual simple interest be equal to $x. Then the amount invested at…

Q: Trudy Waterbury, a financial planner, invested a certain amount of money at 9% annual simple…

Q: how do i solve this application ? step by step please

A: Given:

Q: A consulting engineer’s time is billed at $60 per hour, and her assistant’s is billed at $20 per…

A: Given that: A consulting engineer’s time is billed at $60 per hour, and her assistant’s is billed at…

Q: Larry Mitchell invested part of his $12,000 advance at 4% annual simple interest and the rest at 5%…

A: Solution ) suppose first part x which is invested at 4% And.second part will be…

Q: Phyllis invested 52000 dollars, a portion earning a simple interest rate of 4 percent per year and…

A: Given that, Phyllis invested = $52000, P=52000 for 1 year, T=1 some amount at 4%, R1=4% some amount…

Q: Darwal sells computer networks to educational institutions, and he earns an annual salary of $29,000…

Q: Ms. Jones invested $25,000 in two accounts, one yielding 4% interest and the other yielding 8%. If…

Q: You invested $11,000 in two accounts paying 2% and 3% annual interest, respectively. If the total…

A: Use simple interest formula to calculate

Q: Larry Mitchell invested part of his $17,000 advance at 4% annual simple interest and the rest at 5%…

Q: An investment of $1500 paid interest of $120. How much interest would $2000 invested at the same…

A: Let x represents the interest paid for the investment $2000. Given that, the interest paid for the…

Q: Steve, Karen, and John want to buy a ₱1,350 stereo. If Karen agrees to pay twice as much as John,…

A: Let,John pays = xKaren pays = Twice as much as john = 2xSteve pays = Three times as much as karen =…

Q: Ms. Wilson invested $23,000 in two accounts, one yielding 5% interest and the other yielding 11%. If…

Q: You invested $4000 between two accounts paying 6% and 8% annual interest. If the total interest…

A: Let I invested x in 6% and (4000-x) in 8% account. So, interest from 6% account after 1 year =…

Q: Phyllis invested $12,500, a portion earning a simple interest rate of 4÷% per year and the rest…

Q: A salesman sold $250 more than the rest of the sales staff. If the sales total for the day was…

A: Let X be the price that the rest of the staffs sold. The sales man has sold $250 more than the rest…

Q: You invested $26,000 in two accounts paying 8% and 9% annual interest, respectively. If the total…

Q: You invested $8000 between two accounts paying 3% and 7% annual interest, respectively. If the…

Q: Ms. Walsh invested $22,000 in two accounts, one yielding 7% interest and the other yielding 8%. If…

Q: Ms. Burke invested $13,000 in two accounts, one yielding 6% interest and the other yielding 10%. If…

A: Total amount Ms Burke invested in two accounts = $13,000 Total interest earned from both banks =…

Q: A workman’s basic hourly wage is $10, but he receives one and a half times his hourly rate for any…

A: Given- A workman’s basic hourly wage is $10, but he receives one and a half times his hourly rate…

Q: On an investment of $80,000, James receives $110000 at end of one year. How much would he receive if…

Q: A customer bought $120 worth of coffee at $15 per pound and $72 worth of coffee at $18 per pound. On…

A: Given:

Q: a man has 11 coins in his pocket, all of which are dimes and quarters. If the total value of his…

Q: You invested $16,000 in two accounts paying 6% and 9% annual interest, respectively. If the total…

A: The interest earned in first year with an investment of P, I = PR R is rate of interest

Q: You invested $4000 between two accounts paying 4% and 7% annual interest, respectively. If the total…

A: Given: Let the two accounts be A1 and A2. The annual interest rates of accounts A1 and A2 are 4% and…

Question

Please see attachment for math question.

A bank loaned out $20,000, part of it at the rate of 10% annual interest, and the rest at 4% annual
interest. The total interest earned for both loans was $1,460.00. How much was loaned at each rate?
was loaned at 10% and
was loaned at 4%.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Area$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.

Similar questions

What is the total effect on the economy of a government tax rebate of $1,000 to each household in order to stimulate the economy if each household will spend 90% of the rebate in goods and services?
Lee wants to drive from Phoenix to his brother’s apartment in San Francisco, a distance of 770 miles. If he drives at a steady rate of 70 miles per hour, how many hours will the trip take?
Geraldine has been offered positions by two insurance companies. The first company pays a salary of $12,000 plus a commission of $100 for each policy sold. The second pays a salary of $20,000 plus a commission of $50 for each policy sold. How many policies would need to be sold to make the total pay the same?
Christian has been offered a new job that pays $24,000 a year plus 3% of sales. For what total sales would this new job pay more than his current job which pays $60,000?
A chemistry teacher needs to mix a 30% salt solution with a 70% salt solution to make 20 qt of a 40% salt solution. How many quarts of each solution should the teacher mix to get the desired result?
Last year, at Haven's Pond Car Dealership, for a particular model of BMW, Jeep, and Toyota, one could purchase all three cars for a total of $140,000. This year, due to inflation, the same cars would cost $151,830. The cost of the BMW increased by 8%, the Jeep by 5%, and the Toyota by 12%. If the price of last year's Jeep was $7,000 less than the price of last year's BMW, what was the price of each of the three cars last year?