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Please explain, because I don't know how to do this. Thanks!
A small corporation borrowed $1,500,000. Some of the money was borrowed at 7%, some at 8%, and some at 10% interest rate. Use a system of equations to determine how much was borrowed at each rate if the annual interest was $130,500 and the amount borrowed at 10% was four times the amount borrowed at 7%.
A small corporation borrowed $1,500,000. Some of the money was borrowed at 7%, some at 8%, and some at 10% interest rate. Use a system of equations to determine how much was borrowed at each rate if the annual interest was $130,500 and the amount borrowed at 10% was four times the amount borrowed at 7%.