Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

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

  1. 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. 

  2. Required
  3. a. How much money did you borrow and what commission did you have to pay at each bank?
  4. 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
  5. e.  Explain what values you will find when solving the system

Step by Step Solution

3.38 Rating (151 Votes )

There are 3 Steps involved in it

Step: 1

A Suppose Amount borrowed from first bank be x at 8 interest rate Then Amount borrowed from second b... blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

More Books

Students explore these related Mathematics questions