Gonzalez Manufacturing borrowed $39000. Part of the money was borrowed at 8%, part at 10%, and part at 12%. The annual interest was $3960, and the total amount borrowed at 8% and 10% was twice the amount borrowed at 12%. What was the amount borrowed at each rate?

Gonzalez Manufacturing borrowed $39000. Part of the money was borrowed at 8%, part at 10%, and part at 12%. The annual interest was $3960, and the total amount borrowed at 8% and 10% was twice the amount borrowed at 12%. What was the amount borrowed at each rate?

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter2: Solving Linear Equations

Section2.2: Use A Problem Solving Strategy

Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...

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