SOLUTION: using matrix calculations the question is as follows A total of $ 50,000 is invested in three funds paying 6%,8%, and 10% simple interest. The yearly interest is $3700.00. Twice a

Question 138200: using matrix calculations the question is as follows
A total of $ 50,000 is invested in three funds paying 6%,8%, and 10% simple interest. The yearly interest is $3700.00. Twice as much moneyu is invested at 6% as invesated at 10%. How much is invested in each of the funds.
My professor wants us to accomplish the following items.
a. set up the 3 linear equations in 3 variables
b. put the coeficients into a matrix
c. solve the matrix any method you like
d. provide the solution for x,y, and z.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
using matrix calculations the question is as follows
A total of $ 50,000 is invested in three funds paying 6%,8%, and 10% simple interest. The yearly interest is $3700.00. Twice as much money is invested at 6% as invested at 10%. How much is invested in each of the funds.
My professor wants us to accomplish the following items.
a. set up the 3 linear equations in 3 variables
Quantity Eq.:
x + y + z = 50,000
Interest equation:
0.06x + 0.08y 0.10z = 3700
Relation equation:
x = 2z
-------------------
Rearrange equations:
x + y + z = 50,000
0.06x + 0.08y 0.10z = 3700
x + 0 -2z = 0
---------------------------
Solution got by using Matrix function on TI calculator:
x = 30000
y = 5000
z = 15000
------------
Cheers,
Stan H.
b. put the coeficients into a matrix
c. solve the matrix any method you like
d. provide the solution for x,y, and z.

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