A small software corporation borrowed 500,000 cash to expand its software line. The corporation borrowed some of the money at 9%, some at 10%, and some at 12%. Use a system of equations to determine how much was borrowed at each rate if the annual interest rate was $52,000 and the amount borrowed at 10% was 2.5 times the amount borrowed 9%.
I have no idea where to start with this problem. Can I get some help?
Thank you very much.
Here's what I have so far:
0.09x + 0.1y + 0.12z = ? 2.5x = y