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. 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 $3050. How much did they borrow from each bank?
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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. 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 $3050. How much did they borrow from each bank?
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