A credit union loaned out $50,000, part at an annual rate of 6% and the rest at an annual rate of 12%. The collected combined interest was $3,600 that year. How much did the credit union loan out at each rate? Engineering Economy
A credit union loaned out $50,000, part at an annual rate of 6% and the rest at an annual rate of 12%. The collected combined interest was $3,600 that year. How much did the credit union loan out at each rate? Engineering Economy
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A credit union loaned out $50,000, part at an annual rate of 6% and the rest at an annual rate of 12%. The collected combined interest was $3,600 that year. How much did the credit union loan out at each rate?
Engineering Economy
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