Ashlyn A.

asked • 07/18/18

determine how much is borrowed at each rate given

A natural history museum borrows $2,000,000 at simple annual interest to purchase new exhibits. Some of the money is borrowed at 7%, some at 8.5%, and some at 9.5%. Use a system of linear equations to determine how much is borrowed at each rate given that the total annual interest is $157,000 and the amount borrowed at 8.5% is four times the amount borrowed at 9.5%. Solve the system of linear equations using matrices.

1 Expert Answer

By:

Andy C. answered • 07/20/18

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