A bank loaned out $66000, part of it at 9% per year and the rest at 4% per year. If the interest received was $4190, how much was loaned at 9%?
Let x=the amount loaned at 9%. Then the amount loaned at 4% was 66,000 - x. Adding up the interest gives us the equation: 4190 = x*9% + (66,000-x) * 4% 4190 = 0.09x + 2640 - 0.04x 4190 = 0.05x + 2640 0.05x = 1550x = 1550/0.05 = $31,000
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