SOLUTION: Last year, at Haven's Pond Car Dealership, for a particular model of BMW, Jeep, and Toyota, one could purchase all three cars for a total of $140,000. This year, due to inflation,

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Question 1129909: Last year, at Haven's Pond Car Dealership, for a particular model of BMW, Jeep, and Toyota, one could purchase all three cars for a total of $140,000. This year, due to inflation, the same cars would cost $151,830. The cost of the BMW increased by 9%, the Jeep by 5%, and the Toyota by 11%. If the price of last year's Jeep was $7,000 less than the price of last year's BMW, what was the price of each of the three cars last year? (Round your answers to the nearest integer.)
Answer by greenestamps(13200) About Me  (Show Source):
You can put this solution on YOUR website!


Let last year's prices be B, J, and T. The sum of the prices last year was $140,000:

(1) B+%2B+J+%2B+T+=+140000

The BMW increased in price by 9%, the Jeep by 5%, and the Toyota by 11%. The sum of the prices this year is $151,830:

(2) 1.09B+%2B+1.05J+%2B+1.11T+=+151380

The price of last year's Jeep was $7000 less than the price of last year's BMW:

(3) J+=+B-7000

With the ugly decimal coefficients, I would definitely use matrices on a graphing calculator to solve the problem. The first two equations are in the required form for most graphing calculators; the third equation needs to be put in that form. The matrix would be

matrix%283%2C4%2C1%2C1%2C1%2C1400000%2C1.09%2C1.05%2C1.11%2C151830%2C1%2C-1%2C0%2C7000%29

You can do the calculations....

Note the answers are nice whole numbers....