Math Problem Statement

A bank loaned out ​$11,000​, part of it at the rate of 9 % per year and the rest at 19 % per year. If the interest received in one year totaled ​$1500​, how much was loaned at 9 % question mark How much of the ​$11,000 did the bank loan out at 9 % ?

Solution

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Math Problem Analysis

Mathematical Concepts

Interest Calculation
Linear Equations

Formulas

Interest formula: Interest = Principal × Rate × Time

Theorems

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Suitable Grade Level

Grades 9-12