Business Loans Thompsons Furniture Store borrowed $650,000
Chapter 7, Problem 644(choose chapter or problem)
Business Loans Thompsons Furniture Store borrowed $650,000 to expand its facilities and extend its product line. Some of the money was borrowed at 4%, some at 6.5%, and the rest at 9%. How much was borrowed at each rate if the annual interest was $46,250 and the amount borrowed at 9% was twice the amount borrowed at 4%?
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