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A small software corporation borrowed $345,000 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 $14,100 and the amount borrowed at 4% was 2/1/2 times the amount borrowed at 3%. Solve the system using matrices. amount borrowed at 3% $ $ $ amount borrowed at 4% amount borrowed at 5%

A small software corporation borrowed $345,000 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 $14,100 and the amount borrowed at 4% was 2/1/2 times the amount borrowed at 3%. Solve the system using matrices. amount borrowed at 3% $ $ $ amount borrowed at 4% amount borrowed at 5%

Advanced Engineering Mathematics
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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A small software corporation borrowed $345,000 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 $14,100 and the amount borrowed at 4% was times the amount borrowed at 3%. Solve the system using matrices. amount borrowed at 3% $ amount borrowed at 4% $ amount borrowed at 5% $
Transcribed Image Text:A small software corporation borrowed $345,000 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 $14,100 and the amount borrowed at 4% was times the amount borrowed at 3%. Solve the system using matrices. amount borrowed at 3% $ amount borrowed at 4% $ amount borrowed at 5% $
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