A small software corporation borrowed $195,000 to expand its software line. The corporation borrowed some of the money at 3%, some at 4%, and some at 5%. Use a system of equations to determine how much was borrowed at each rate when the annual interest was 2 times the amount borrowed at 3%. Solve the system using matrices. $7,500 and the amount borrowed at 4% was amount borrowed at 3% %24 amount borrowed at 4% %24 amount borowed at 5%

A small software corporation borrowed $195,000 to expand its software line. The corporation borrowed some of the money at 3%, some at 4%, and some at 5%. Use a system of equations to determine how much was borrowed at each rate when the annual interest was 2 times the amount borrowed at 3%. Solve the system using matrices. $7,500 and the amount borrowed at 4% was amount borrowed at 3% %24 amount borrowed at 4% %24 amount borowed at 5%

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

A small software corporation borrowed $195,000 to expand its software line. The corporation borrowed some of the money at 3%, some
at 4%, and some at 5%. Use a system of equations to determine how much was borrowed at each rate when the annual interest was
2 times the amount borrowed at 3%. Solve the system using matrices.
$7,500 and the amount borrowed at 4% was
amount borrowed at 3%
%24
amount borrowed at 4%
%24
amount borowed at 5%

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