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Question 1117341: Last year your town invested a total of $25,000 into two separate funds. The return on one fund was 4% and the return on the other was 6%. If the town earned a total of $1,300 interest, how much money was invested in each fund?
What variable will you use? What will they represent?
What equations can u write to model this situation?
How can you use a matrix to solve this system
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Last year your town invested a total of $25,000 into two separate funds. The return on one fund was 4% and the return on the other was 6%. If the town earned a total of $1,300 interest, how much money was invested in each fund?Q
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Quantity Equation:: f + s = 25000
Interest Equation:: 4f + 6s = 130000
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What variable will you use? What will they represent?
f is the amount of 4% money
s is the amount of 6% money
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What equations can u write to model this situation?
See above.
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How can you use a matrix to solve this system
The coefficient matrix is 2 by 2
Find it's inverse and multiply the column vector [25000 130000]
to see the values of "f" and "s".
f = $10000 ; s = $15000
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Cheers,
Stan H.
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