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34kurt
3 years ago
5

A natural history museum borrows $2,000,000 at simple annual interest to purchase new exhibits. some of the money is borrowed at

7%, some at 8.5%, and some at 9.5%. use a system of linear equations to determine how much is borrowed at each rate given that the total annual interest is $169,750 and the amount borrowed at 8.5% is four times the amount borrowed at 9.5%. solve the system of linear equations using matrices.
Business
1 answer:
stepan [7]3 years ago
8 0

Let the amount borrowed at 9.5% be x. Now we have:

at 9.5% = x

at 8.5% = 4x

at 7% = 2,000,000 - 5x

0.095x + 0.085(4x) + 0.07(2,000,000-5x) = 169,750

0.095x + 0.34x + 140,000 - 0.35x = 169,750

0.085x = 29,750

x = 350,000

So the museum borrowed:

At 9.5% = 350K

At 8.5% = 350*4 = 1,400,000

At 7% = 2,000,000 - 5(350,000) = 250,000

Total borrowed

350,000 + 1,400,000 + 250,000 = 2,000,000 Correct

Interest paid:

0.095(350,000) + 0.085(1,400,000) + 0.07(250,000) = 169,750

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Answer:

(A). Federal Administrative Agency

Explanation:

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8 0
3 years ago
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Lubov Fominskaja [6]

My response would be Tiffany is incorrect; a manager's actions can be legal but ethically questionable.

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An action can be legal but not ethical but all ethical actions are legal. Consider a trader in a developing economy. In that country, there is no law prohibiting insider trading so it is legal to carry out insider trading. Even though it is legal, it is ethically wrong to conduct insider trading because a party would be advantaged to the detriment of other people.

Here are the options:

  1. Tiffany is correct; law and ethics are synonymous and should be used interchangeably in business.
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  3. Tiffany is incorrect; a manager's actions can be legal but ethically questionable.
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To learn more, please check: brainly.com/question/13015186

6 0
2 years ago
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iren2701 [21]

Any time patients state that they receive Medicaid, they must present a valid Medicaid identification card because eligibility, in many cases, will rely upon the patient’s Monthly income.

<h3>What is Medicaid?</h3>

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To know more about Medicaid go to the given link:brainly.com/question/535720

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5 0
1 year ago
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shusha [124]

Answer:

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Explanation:

Earning dividends like this can be a small asset over the long period.

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3 years ago
Outstanding common stock is:_________. A) Stock that is performing well on the New York Stock Exchange. B) Stock held in the cor
Leviafan [203]

Answer:

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