Question:

A bank loaned out $19,500, part of it at the rate of 3%

Last updated: 7/15/2022

A bank loaned out $19,500, part of it at the rate of 3%

A bank loaned out $19,500, part of it at the rate of 3% annual interest, and the rest at 2% annual interest. The total interest earned for both loans was $535.00. How much was loaned at each rate?