Answer
$16,775
Work Step by Step
If $\frac{5}{16}$ is borrowed in the last year, then $\frac{11}{16}$ was borrowed in the first years. Multiply the total borrowed by $\frac{11}{16}$ to determine the amount borrowed in the first years.
$24,400 \times \frac{11}{16}$ can be reduced by the common factor of 4.
$6,100 \times \frac{11}{4}$ can be further reduced by the common factor of 4.
$1525 \times \frac{11}{1} = 16,775$