Business, 16.07.2021 03:20 jeff6284

Andre borrowed $40,000 to buy a truck for his business. He borrowed from his parents who charge him 3% simple interest. He borrowed from a credit union that charges 4% simple interest, and he borrowed from a bank that charges 6% simple interest. He borrowed four times as much from his parents as from the bank, and the amount of interest he paid at the end of 1 yr was $1,560. How much did he borrow from each source

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Andre borrowed $40,000 to buy a truck for his business. He borrowed from his parents who charge him...