Chels H.

asked • 10/26/15

I need help on matrices I don't understand

A small business takes out loans from three banks to buy some new equipment. The total amount of the three loans is $34000. The first bank offered an interest rate of 16%. The second bank offered a rate of 18% and the amount borrowed from this bank was $5000 less than twice as much as the amount borrowed from the first bank. The third bank offered a rate of 15%. The total annual interest was $5650. How much did they borrow from each bank?(use matrice)

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