Determine how much was borrowed at each rate

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Reference no: EM13199074

a small corporation borrowed 1,500,000 to expand its line of shoes. some of the money was borrowed at 7%, some at 8%, and some at 10%. Use a system of equations to determine how much was borrowed at each rate if the annual interest was $130,500 and the mount borrowed at 10% was four times the amount borrowed at 7%. solve the system using matrices.

Reference no: EM13199074

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