A Real Estate Company Borrows $700,000

Multiple Choice

A real estate company borrows $700,000. Some of the money is borrowed at 5%, some at 9%, and some at 11% simple annual interest. How much is borrowed at the 5% rate when the total annual interest is $55,000 and the amount borrowed at 9% is the same as the amount borrowed at 11%?

A) $700,000
B) $300,000
C) $500,000
D) $200,000
E) $900,000