Telmex must borrow $25,000 million pesos (mp) to pay for an extension. You can't borrow all your
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Question:
- Telmex must borrow $25,000 million pesos (mp) to pay for an extension. You can't borrow all your money from one bank, so you borrow three from three different banks. The first charges 8% interest. In the second bank, he borrows $2,000 million pesos, more than half of what was requested in the first bank. The interest rate of the second bank is 10%. The rest of the $25 billion pesos is loaned by a third bank, where Telmex pays 9% interest. The total annual interest that Telmex pays for the loan from the three banks is $2,220 million pesos.
- Required
- a. How much money did you borrow and what commission did you have to pay at each bank?
- b. Describe the problem.
c. Translate the problem into algebraic language by forming the system of equations that represents it.
d. Explain in detail each equation and the variables that compose them - e. Explain what values you will find when solving the system
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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