Question

a bank loaned out $250,000, part of it at the rate of 8% and the rest at the rate of 18% annual interest. The interest received from both loans totaled $23,000. How much did the bank loan at each rate

Answer 1

So you have two parts to the loan

Answer 2

x+y=250,000
.18x+.08y=23,000

Answer 3

Solve for x and y

Answer 4

any question?

Answer 5

Was waiting to see if you had any questions. Did you solve the problem?