A bank loaned out $29,000, part of it at the rate of 8% annual interest, and the rest at 9% annual interest. The total interest earned for both loans was $2,485.00. How much was loaned at each rate?

Intermediate Algebra
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ISBN:9780998625720
Author:Lynn Marecek
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Chapter10: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 443RE: Elise invests $4500 in an account that compounds interest monthly and earns 6%. How long will it...
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A bank loaned out $29,000, part of it at the rate of 8% annual interest, and the rest at 9% annual interest. The total interest earned for both loans was $2,485.00. How much was loaned at each rate?

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