Set-up the appropriate system of equations

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Pietro borrows $16,000. He borrow some of the money from his friend at, 2% annual interest. He borrows three times as much from the bank as he borrows from his friend at 6% annual interest. He borrows the remainder from his insurance company at 13%. He pays a total of $5330 in interest for the first year. How much did he borrow from the bank? (a) List and verbally define your variables (b) Set-up the appropriate system of equations. (c) Solve the system of equations. Answer the question that is posed in the problem set-up.

Reference no: EM131606086

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