A residential building contractor borrowed $39,000 to complete a new home. Some of the money was borrowed at 5%, some at 4%, and some at 6%. How much was borrowed at each rate if the annual interest owed was $1800 and the amount borrowed at 4% is four times more than the amount borrowed at 6%?
A. $12,000 at 5%; $22,000 at 4%; $5000 at 6%
B. $14,000 at 5%; $20,000 at 4%; $5000 at 6%
C. $12,000 at 5%; $21,000 at 4%; $6000 at 6%
D. $13,000 at 5%; $18,000 at 4%; $7000 at 6%
E. $11,000 at 5%; $24,000 at 4%; $6000 at 6%
Stacey Warren - Expert brainly.com
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Any ideas on how you want to attempt this problem? There are many many ways.
Whatever way is easiest....
I figured setting up a formula and then plugging in the different answers till I find the right one.. so in that case I guess I'm not sure what my equation/formula would be?