Question

To get the necessary funds for a planned expansion, a small company took out three loans totaling $25,000. The company was able to borrow some money at 8%. It borrowed $2000 more than half the amount of the 8% loan at 10% and the rest at 9%. The total annual interest was $2200. How much did the company borrow at each rate?

Answer 1

x+y+z=25000
y = x/2 + 2000
.08x + .10y + .09z = 2200

(x,y,z) = (14000,9000,2000)