A small software corporation borrowed $290,000 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 $12,700 and the amount borrowed at 4% was 2- times the amount borrowed at 3%. Solve the system using matrices. amount borrowed at 3% %24 amount borrowed at 4% amount borrowed at 5% %24 %24 %24

A small software corporation borrowed $290,000 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 $12,700 and the amount borrowed at 4% was 2- times the amount borrowed at 3%. Solve the system using matrices. amount borrowed at 3% %24 amount borrowed at 4% amount borrowed at 5% %24 %24 %24

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter6: Linear Systems

Section6.2: Guassian Elimination And Matrix Methods

Problem 76E

See similar textbooks