Question
Set up a system of linear equations to represent the scenario. Solve the system by using Gaussian elimination or Gauss-Jordan elimination. Assume the interest rates
Set up a system of linear equations to represent the scenario. Solve the system by using Gaussian elimination or Gauss-Jordan elimination. Assume the interest rates are annual.Lamar borrowed $18,000 to buy a truck for his business. He borrowed from his parents who charge him 7% simple interest. He borrowed from a credit union that charges 3% simple interest, and he borrowed from a bank that charges 2% simple interest. He borrowed five times as much from his parents as from the bank, and the amount of interest he paid at the end of 1 yr was $920 How much did he borrow from each source?
Lamar borrrow $ from his parents, $ from the credit union, and $ from the bank.
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