A bank loaned out $19000, part of it at the rate of 6% per year and the rest at 14% per year. If the interest received in one year totaled $1500, how much was loaned at 6%?

$14500 was loaned at 6%.

Step-by-step explanation:

Let x represent the amount loaned out at 6% interest rate.

Let y represent the amount loaned out at 14% interest rate.

The bank loaned out $19000, part of it at the rate of 6% per year and the rest at 14% per year. It means that

x + y = 19000

The interest received made from $x in one year is

6/100 × x = 0.06x

The interest received made from $y in one year is

14/100 × x = 0.14y

If the interest received in one year totaled $1500, it means that

0.06x + 0.14y = 1500- - - - - - - - - 1

Substituting x = 19000 - y into equation 1, it becomes

0.06(19000 - y) + 0.14y = 1500

1140 - 0.06y + 0.14y = 1500

- 0.06y + 0.14y = 1500 - 1140

0.08y = 360

y = 360/0.08

y = 4500

x = 19000 - y = 19000 - 4500

x = $14500

answer: 298143

step-by-step explanation:

step-by-step explanation: