A bank loaned out $32,500, part of it at the rate of 7% annual interest, and the rest at 12% annual interest. The total interest earned for both loans was $3,125.00. How much was loaned at each rate?

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04-10-2022
Mathematics

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A bank loaned out $32,500, part of it at the rate of 7% annual interest, and the rest at 12% annual interest. The total interest earned for both loans was $3,125.00. How much was loaned at each rate?

Sagot :

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