If the amount borrowed at 7.5% is four times the amount borrowed at 8.5%. The amount borrowed is: $200,000, $800,000, $1,000,000.
<h3>How to find the amount borrowed?</h3>
Now let find the amount borrowed
Let X+Y+Z = 2000000
0.06X + 0.075Y + 0.085Z = 137000
Y = 4Z
Substituting Y=4Z into the first and second equations:
X + 5Z = 2000000
0.06X + 0.075(4Z) + 0.085Z = 137000
X = 2000000 - 5Z
0.06X + 0.385Z = 137000
0.06(2000000 - 5Z) + 0.385Z = 137000
120000 - 0.3Z + 0.385Z = 137000
0.085Z + 120000 = 137000
0.085Z = 17000
Divide both side by 0.085Z
Z= 17,000/0.085
Z = 200000
So,
Y = 4Z
Y = 800000
X= 200,000 + 800,000
X = 1000000
Hence,
Z = 200000
Y = 800000
X = 1000000
Therefore the amount borrowed is: $200,000, $800,000, $1,000,000.
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