Solve the system of linear equations using matrices.

Question

A state government borrows $2,000,000 at simple annual interest. 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 (in dollars) is borrowed at each rate given that the total annual interest is $161,250 and the amount borrowed at 8.5% is four times the amount borrowed at 9.5%. Solve the system of linear equations using matrices.

at 7%. $_____

 at 8.5%. $_____

 at 9.5%. $ _____

Answer 1

x represents amount at 9.5%

4x represents the amount at 8.5%

2000000 - 5x represents the amount at 7%

0.095x + 0.085(4x) + 0.07(2000000) = 161250

Can you solve for x and answer?