Homework hellpppp pleasee help?

Question

a bank has loaned out $500,000 part of at 6% per year and the rest of it as 11% per year . if the bank receives $43,750 in interest each year, how much of it at 6%??

Answer 1

$43,750 x .06

Answer 2

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Answer 3

x = number of months at 6%

y = number of months at 11%



.06 (500000) x + .11 (500000) y = 43750

    x + y = 12