Last year, a women's professional organization made two small business loans totaling $38,000 to young women beginning their own businesses. The money was lent at 7% and 10% simple interest rates. If the annual income the organization received from these loans was $3,560, what was each loan amount?
$__________ at 7% $__________ at 10%

Question

Last year, a women's professional organization made two small business loans totaling $38,000 to young women beginning their own businesses. The money was lent at 7% and 10% simple interest rates. If the annual income the organization received from these loans was $3,560, what was each loan amount?
 $__________ at 7% $__________ at 10%

Quizplus · Accepted Answer

The Answer of Last year, a women's professional organization made two small business loans totaling $38,000 to young women beginning their own businesses. The money was lent at 7% and 10% simple interest rates. If the annual income the organization received from these loans was $3,560, what was each loan amount?
 $__________ at 7% $__________ at 10%

Last Year, a Women's Professional Organization Made Two Small Business