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A Residential Building Contractor Borrowed $30,000 to Complete a New

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A residential building contractor borrowed $30,000 to complete a new home. Some of the money was borrowed at 5%, some at 6%, and some at 8%. How much was borrowed at each rate if the annual interest owed was $1780 and the amount borrowed at 6% is four times more than the amount borrowed at 8%?


Definitions:

Angiosperms

The traditional name for flowering plants, a very large (more than 300,000 species), diverse phylum of plants that form flowers for sexual reproduction and produce seeds enclosed in fruits; include monocots and eudicots.

Gymnosperms

Gymnosperms are a group of seed-producing plants that includes conifers, cycads, Ginkgo, and gnetophytes, distinguished from flowering plants by having naked seeds.

Liverworts

A group of non-vascular plants belonging to the division Hepaticophyta, characterized by a liver-like appearance and commonly found in moist, shaded environments.

Vascular Tissues

Plant tissues responsible for transporting water, nutrients, and sugars throughout the plant.

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