Question

A bank loaned out $27,500, part of it at the rate of 14% annual interest, and the rest at 12% annual

interest. The total interest earned for both loans was $3,650.00. How much was loaned at each rate?
$
was loaned at 14% and
was loaned at 12%.

Answer 1

$17,500 was loaned at 14% interest, and $10,000 was loaned at 12% interest.