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A Small Corporation Borrowed $800,000 to Expand Its Line of Toys.Some

question 46

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A small corporation borrowed $800,000 to expand its line of toys.Some of the money was borrowed at 8%,some at 9%,and some at 10%.How much was borrowed at each rate if the annual interest owed was $67,400 and the amount borrowed at 8% was five times the amount borrowed at 10%? ​

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Definitions:

Functional Design

The process of creating products with a focus on practicality and efficiency, ensuring they perform their intended function well.

Organization Design

The process of shaping an organization's structure and roles to align with its business strategies, goals, and environment.

Functional Organization

A type of organizational structure where the company is divided into departments based on functions such as marketing, finance, and operations.

Narrow Product Line

A business strategy focusing on a limited selection of products or services to specialize and cater to a specific segment of the market.

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