A company borrows $400,000 for 1 year to expand its product line. Some of the money was
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A company borrows $400,000 for 1 year to expand its product line. Some of the money was borrowed at a 3% simple interest rate, and the rest of the money was borrowed at a 6% simple interest rate. How much money was borrowed at each rate if the total annual interest was $16,500?
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Related Book For 
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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