A bank loaned out $7,500, part of it at the rate of 12% annual interest, and the rest at 14% annual interest. The total interest earned for both loans was $920.00. How much was loaned at each rate? $ was loaned at 12% and $ was loaned at 14%
A bank loaned out $7,500, part of it at the rate of 12% annual interest, and the rest at 14% annual interest. The total interest earned for both loans was $920.00. How much was loaned at each rate? $ was loaned at 12% and $ was loaned at 14%
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
Problem 1PS
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1--A bank loaned out $7,500, part of it at the rate of 12% annual interest, and the rest at 14% annual interest. The total interest earned for both loans was $920.00. How much was loaned at each rate?
$ was loaned at 12% and
$ was loaned at 14%.
2---If 134 people attend a concert and tickets for adults cost $2.75 while tickets for children cost $1.75 and total receipts for the concert was $309.5, how many of each went to the concert?
adults
children
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