A bank has loaned out $750,000, part of it at 5% per annum and the rest of it at 8% per annum. If the bank receives $52,500 in interest each year, how much was loaned at 5%?

Question

A bank has loaned out $750,000, part of it at 5% per annum and the rest of it at 8% per annum.  If the bank receives $52,500 in interest each year, how much was loaned at 5%?

Bot · Answer

$500,000 was loaned at 5% per annum.