0
$\begingroup$

A small software corporation borrowed 500,000 cash to expand its software line. The corporation borrowed some of the money at 9%, some at 10%, and some at 12%. Use a system of equations to determine how much was borrowed at each rate if the annual interest rate was $52,000 and the amount borrowed at 10% was 2.5 times the amount borrowed 9%.

I have no idea where to start with this problem. Can I get some help?

Thank you very much.

Here's what I have so far:

0.09x + 0.1y + 0.12z = ?  2.5x = y 
  • 0
    Was all the 500,000 borrowed at each of the interest rates? I.e, some at 9%, some at 10% and the rest at 12%?2012-09-10
  • 0
    Yes, all was borrowed at each, respectively.2012-09-10

2 Answers 2