Statistics Solutions

[Step-by-Step] A corporation borrowed $500,000, with some borrowed at 9%, some at 10% and some at 12%. How much was borrowed at each rate if the annual

Question: A corporation borrowed $500,000, with some borrowed at 9%, some at 10% and some at 12%. How much was borrowed at each rate if the annual interest was $52,000 and the amount borrowed at 10% was 2.5 times the amount borrowed at 9%? The solution needs to be done by Matrix Elimination method.

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