Mathematics, 07.10.2020 14:01 jade137
Chelsea took out three loans for a total of $76,000 to start an organic orchard. Her business-equipment loan was at an interest rate of 11%, the small-business loan was at an interest rate of 5%, and her home-equity loan was at an interest rate of 5.5%. The total simple interest due on the loans in one year was $4720. The annual simple interest on the home-equity loan was $880 more than the interest on the business-equipment loan. How much did she borrow from each source?
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Chelsea took out three loans for a total of $76,000 to start an organic orchard. Her business-equipm...
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