Question:

A bank loaned out $24,500, part of it at the rate of 14%

Last updated: 7/28/2022

A bank loaned out $24,500, part of it at the rate of 14%

A bank loaned out $24,500, part of it at the rate of 14% annual interest, and the rest at 15% annual interest. The total interest earned for both loans was $3,545.00. How much was loaned at each rate? $ was loaned at 14% and $ was loaned at 15%.