A state government borrows $2,000,000 at simple annual interest. Some of the money is borrowed at 6%, some at 7.5%, and some at 8.5%. Use a system of linear equations to determine how much (in dollars) is borrowed at each rate given that the total annual interest is $137,000 and the amount borrowed at 7.5% is four times the amount borrowed at 8.5%. Solve the system of linear equations using matrices.

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03-12-2022
Mathematics

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A state government borrows $2,000,000 at simple annual interest. Some of the money is borrowed at 6%, some at 7.5%, and some at 8.5%. Use a system of linear equations to determine how much (in dollars) is borrowed at each rate given that the total annual interest is $137,000 and the amount borrowed at 7.5% is four times the amount borrowed at 8.5%. Solve the system of linear equations using matrices.

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