For Exercises 61-64, set up a system of linear equations to represent the scenario. Solve the system by using Gaussian elimination or Gauss-Jordan elimination. Andre borrowed $ 20 , 000 to buy a truck for his business. He borrowed from his parents who charge him 2 % simple interest. He borrowed from a credit union that charges 4 % simple interest, and he borrowed from a bank that charges 5 % simple interest. He borrowed five times as much from his parents as from the bank, and the amount of interest he paid at the end of 1 yr was $ 620. How much did he borrow from each source?
For Exercises 61-64, set up a system of linear equations to represent the scenario. Solve the system by using Gaussian elimination or Gauss-Jordan elimination. Andre borrowed $ 20 , 000 to buy a truck for his business. He borrowed from his parents who charge him 2 % simple interest. He borrowed from a credit union that charges 4 % simple interest, and he borrowed from a bank that charges 5 % simple interest. He borrowed five times as much from his parents as from the bank, and the amount of interest he paid at the end of 1 yr was $ 620. How much did he borrow from each source?
For Exercises 61-64, set up a system of linear equations to represent the scenario. Solve the system by using Gaussian elimination or Gauss-Jordan elimination.
Andre borrowed
$
20
,
000
to buy a truck for his business. He borrowed from his parents who charge him
2
%
simple interest. He borrowed from a credit union that charges
4
%
simple interest, and he borrowed from a bank that charges
5
%
simple interest. He borrowed five times as much from his parents as from the bank, and the amount of interest he paid at the end of
1
yr
was
$
620.
How much did he borrow from each source?
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.