A bank loaned out 10,000 part of it at the rate of 6% per y ear and the rest at 16,000 per year. If the interest received in 1 year totaled 1,000 how much at 6%

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Let x is the amount loaned at 6% ... 0.06x + 0.16(10000-x) = 1000 0.06x + 1600 -... View the full answer

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The loan given at... View the full answer