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 $34,000. The first bank offered an interest rate of 16%. The second bank offered a rate of 18% and the amount borrowed from this bank was $5000 less than twice as much as the amount borrowed from the first bank. The third bank offered a rate of 15%. The total annual interest was $5650. How much did they borrow from each bank?

Question

A. first bank $10,000, second bank $15,000, third bank: $9000
B. first bank $9600, second bank $14,200, third bank: $10,200
C. first bank $11,000, second bank $17,000, third bank: $6000
D. first bank $10,500, second bank $16,000, third bank: $7500

Answer 1

Answer: A