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Nicole borrowed $18,000 to buy a truck for her business. She borrowed from her parents who charge her 7% simple interest. She

borrowed from a credit union that charges 6% simple interest, and she borrowed from a bank that charges 5% simple interest.
She borrowed four times as much from her parents as from the bank, and the amount of interest she paid at the end of 1 yr was
$1140. How much did she borrow from each source?


User Jatanp
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1 Answer

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Nicole borrowed $7,288 from each source
User Aaron Gibson
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