x+y+z = 2000000
y = 4x
.07x + .085y + .095z = 169750
A museum borrows $2,000,000 at simple annual interest to purchase new
exhibits. Let x represent the amount borrowed at 7%, y represent the amount borrowed at 8.5%, and z represent the amount borrowed at 9.5%. Set up a system of linear equations to determine how much is borrowed at each rate given that the total annual interest is $169,750 and the amount borrowed at 8.5% is four times the amount borrowed at 9.5%.
2 answers
Wouldn't y=4z since "8.5% (y) is four times the amount borrowed at 9.5% (z)?
2 answers