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Solve the Problem. -A Bank Loaned Out $69,000, Part of It at the It

question 44

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Solve the problem.
-A bank loaned out $69,000, part of it at the rate of 15% per year and the rest at a rate of 8% per year. If the interest received was $7480, how much was loaned at 15%?

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Definitions:

Vertical Structuring

Determines where in a hierarchy a company’s decisions are made.

Cultural Barriers

Challenges and obstacles that arise in cross-cultural communication and interaction due to differences in language, norms, and customs.

Language Barriers

Challenges to communication that occur when people who have no language in common attempt to converse.

Subsidiary

A “child” company to a parent company; the parent company owns 100% of the subsidiary’s operations.

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