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5. A bank has outstanding loans worth $10,000. Some were loan at 10% and some
were loaned at 7%. If the income from these loans was $820, how much was
loaned at 10%?

Respuesta :

The total amount of the outstanding loan that the bank loaned at 10% interest rate is $4,000.

What are the linear equations that represent the question?

a + b = $10,000 equation 1

0.1a + 0.07b = 820 equation 2

Where:

  • a = amount loaned at 10%
  • b = amount loaned at 7%

How much was loaned at 10%?

Multiply equation 1 by 0.07

0.07a + 0.07b = 700 equation 3

Subract equation 3 from equation 2

0.03a = 120

Divide both sides of the equation by 0.03

a = 120 / 0.03

a = $4000

To learn more about simultaneous equations, please check: https://brainly.com/question/25875552

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