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A Corporation Borrowed $1,330,000\$ 1,330,000 To Expand Its Line of Clothing 8%8 \%

Question 72

Multiple Choice

A corporation borrowed $1,330,000\$ 1,330,000 to expand its line of clothing. Some of the money was borrowed at 8%8 \% some at 11%11 \% and the remainder at 14%14 \% . The annual interest payment to the lenders was $127,400\$ 127,400 . The amount borrowed at 8%8 \% was 44 times the amount borrowed at 14%14 \% . How much was borrowed at the 14%14 \% rate?


A) $210,000\$ 210,000
B) $430,000\$ 430,000
C) $840,000\$ 840,000
D) $160,000\$ 160,000
E) $280,000\$ 280,000

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