Then the money borrowed insurance company is $1,000.
Money borrowed from insurance company = $1000
Let the money borrowed by her friend at 8% interest = x
Then the money borrowed by the bank at 9% interest = 2x
<h3>What is the total money?</h3>
Total money borrowed = $10,000
So, the money borrowed from the insurance company = 10,000-(2x+x)
= 10,000-3x
Total interest for the first year = $830
We have the equation,
8%(x) + 9%(2x) +5% (10,000-3x) = 830
8x+18x+50,000-15x = 83,000
11x = 83000-50000
11x = 33,000
x = $3000
Then the money borrowed insurance company = 10,000-3x
Then the money borrowed insurance company is $1,000.
To learn more about the insurance visit:
brainly.com/question/25855858
#SPJ1
