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A bank loaned out $23,000, part of it at the rate of 10% annual interest, and the rest at 12% annual interest. The total interest earned for both loans was $2,390.00. How much was loaned at each rate? was loaned at 10% and was loaned at 12%. Question Help: Video 1 Video 2

A bank loaned out $23,000, part of it at the rate of 10% annual interest, and the rest at 12% annual interest. The total interest earned for both loans was $2,390.00. How much was loaned at each rate? was loaned at 10% and was loaned at 12%. Question Help: Video 1 Video 2

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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A bank loaned out $23,000, part of it at the rate of 10% annual interest, and the rest at 12% annual interest. The total interest earned for both loans was $2,390.00. How much was loaned at each rate? Question Help: Submit Question was loaned at 10% and was loaned at 12%. Video 1 Video 2 0 COCORT
Transcribed Image Text:A bank loaned out $23,000, part of it at the rate of 10% annual interest, and the rest at 12% annual interest. The total interest earned for both loans was $2,390.00. How much was loaned at each rate? Question Help: Submit Question was loaned at 10% and was loaned at 12%. Video 1 Video 2 0 COCORT
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