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

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