A small corporation borrowed $800,000 to expand its line of toys.Some of the money was borrowed at 8%,some at 9%,and some at 10%.How much was borrowed at each rate if the annual interest owed was $67,400 and the amount borrowed at 8% was five times the amount borrowed at 10%?
A)$575,000 at 8%
$110,000 at 9%
$115,000 at 10%
B)$575,000 at 8%
$115,000 at 9%
$115,000 at 9%
C)$575,000 at 9%
$110,000 at 8%
$115,000 at 10%
D)$575,000 at 8%
$115,000 at 9%
$110,000 at 10%
E)$575,000 at 8%
$115,000 at 9%
$115,000 at 10%

Question

A small corporation borrowed $800,000 to expand its line of toys.Some of the money was borrowed at 8%,some at 9%,and some at 10%.How much was borrowed at each rate if the annual interest owed was $67,400 and the amount borrowed at 8% was five times the amount borrowed at 10%? ​
A)$575,000 at 8% 
$110,000 at 9%
$115,000 at 10%
B)$575,000 at 8% 
$115,000 at 9%
$115,000 at 9%
C)$575,000 at 9% 
$110,000 at 8%
$115,000 at 10%
D)$575,000 at 8% 
$115,000 at 9%
$110,000 at 10%
E)$575,000 at 8% 
$115,000 at 9%
$115,000 at 10%

Quizplus · Accepted Answer

Let x be the amount borrowed at 8%, y be the amount borrowed at 9%, and z be the amount borrowed at 10%.We have the following system of equations:x + y + z = 8000000.08x + 0.09y + 0.10z = 67400x = 5zSolving the system of equations, we get:x = 575000y = 110000z = 115000

A Small Corporation Borrowed $800,000 to Expand Its Line of Toys.Some