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Solve the Problem by Writing and Solving a Suitable System $19,000\$ 19,000

Question 91

Multiple Choice

Solve the problem by writing and solving a suitable system of equations.
-A small business takes out loans from three different banks to buy some new equipment. The total amount of the three loans is $19,000\$ 19,000 . The first bank offered an interest rate of 16%16 \% . The second bank offered a rate of 18%18 \% and the amount borrowed from this bank was $5000\$ 5000 less than twice as much as the amount borrowed from the first bank. The third bank offered a rate of 15%15 \% . The total annual interest was $3050\$ 3050 . How much did they borrow from each bank?


A) first bank $6000\$ 6000 , second bank $7000\$ 7000 , third bank: $6000\$ 6000
B) first bank $5500\$ 5500 , second bank $6000\$ 6000 , third bank: $7500\$ 7500
C) first bank $5000\$ 5000 , second bank $5000\$ 5000 , third bank: $9000\$ 9000
D) first bank $4600\$ 4600 , second bank $4200\$ 4200 , third bank: $10,200\$ 10,200

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