a bank loaned out $13,000 part of it at a rate of 8% per year and the rest at 16% per year. if the interest received in one year totaled $1500 how much was loaned at 8%.

Answer: $725

Step-by-step explanation:

Let x represent the amount invested at 8%, then $13,000 - x is the amount invested at 16%.

0.08 (x) + 0.16 (13,000 - x) = 1500

0.08x + 2080 - 0.16x = 1500

2080 - 0.08x = 1500

- 0.08x = - 580

x = 7250