Question:

A bank loaned out $31,000, part of it at the rate of 8%

Last updated: 7/19/2022

A bank loaned out $31,000, part of it at the rate of 8%

A bank loaned out $31,000, part of it at the rate of 8% annual interest, and the rest at 10% annual interest. The total interest earned for both loans was $2,710.00. How much was loaned at each rate?