Edgar borrowed a total of $10,000 from three sources: the bank, his mom, and a close friend. after one year, he paid a total of $624 in simple interest toward the three loans. the bank charged an interest rate of 7% per year, his mom charged 5%, and the friend charged 6%. the amount he borrowed from his mom exceeded the amount he borrowed from his friend by $200. what amount did edgar borrow from the bank?
a.
$2,400
b.
$3,600
c.
$5,000
d.
$5,400

I believe the answer is C: $5000.

Step-by-step explanation:

From the problem, you can develop 3 equations using x, y, and z (x = bank, y = mom, z = friend):

x + y + z = 10,000

0.07x + 0.05y + 0.06z = 624

y - z = 200

Use matrices to solve and get an answer of x = 5000, y = 2600, and z = 2400. Since they ask how much money he borrowed from the bank, your answer would be the value of x, which is C. $5,000.

Hope this helped!!

question

what is the value of the third quartile of the data set represented by this box plot? a. 19 b. 21 c. 26 d. 29

answer

c