A natural history museum borrows $2,000,000 at simple annual interest to purchase new exhibits. Some of the money is borrowed at 5%, some at 6.5%, and some at 7.5%. Use a system of linear equations to determine how much is borrowed at each rate given that the total annual interest is $125,500 and the amount borrowed at 6.5% is four times the amount borrowed at 7.5%. Solve the system of linear equations using matrices.
A natural history museum borrows $2,000,000 at simple annual interest to purchase new exhibits. Some of the money is borrowed at 5%, some at 6.5%, and some at 7.5%. Use a system of linear equations to determine how much is borrowed at each rate given that the total annual interest is $125,500 and the amount borrowed at 6.5% is four times the amount borrowed at 7.5%. Solve the system of linear equations using matrices.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter9: Quadratic Functions And Equations
Section9.7: Solving Systems Of Linear And Quadratic Equations
Problem 30HP
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A natural history museum borrows $2,000,000 at simple annual interest to purchase new exhibits. Some of the money is borrowed at 5%, some at 6.5%, and some at 7.5%. Use a system of linear equations to determine how much is borrowed at each rate given that the total annual interest is $125,500 and the amount borrowed at 6.5% is four times the amount borrowed at 7.5%. Solve the system of linear equations using matrices.
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