Question

A small software corporation borrowed $390,000 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 $15,000 and the amount borrowed at 4% was $2\frac{1}{2}$ times the amount borrowed at 3%. Solve the system using matrices.

          A small software corporation borrowed $390,000 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 $15,000 and the amount borrowed at 4% was $2\frac{1}{2}$ times the amount borrowed at 3%. Solve the system using matrices.

$A small software corporation borrowed 390,000 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 $15,000 and the amount borrowed at 4% was $2\frac{1}{2}$ times the amount borrowed at 3%. Solve the system using matrices.$

Added by John C.

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