Chelsea took out three loans for a total of $75,000to start an organic orchard. Her business-equipment loan was at an interest rate of 11%, the small-business loan was at an interest rate of 5%,and her home-equity loan was at an interest rate of 5.5%.The total simple interest due on the loans in one year was $4730. The annual simple interest on the home-equity loan was $770more than the interest on the business-equipment loan. How much did she borrow from each source?
Chelsea borrowed $nothingfrom the business-equipment loan, $nothingfrom the small-business loan, and $nothingfrom the home-equity loan.
