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Question 548808: 12. Using matrix calculations, solve the following problem.
A total of $75,000 is invested in three funds paying 6%, 8%, and 10% simple interest. The yearly interest is $6400. Twice as much money is invested at 10% as is invested at 6%. How much is invested in each of the funds.
a. set up the 3 linear equations in 3 variables
Show the 3 linear equations
b. put the coefficients into an augmented matrix
c. solve the matrix using any method you like
Put the solution in the box.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Using matrix calculations, solve the following problem.
A total of $75,000 is invested in three funds paying 6%, 8%, and 10% simple interest. The yearly interest is $6400. Twice as much money is invested at 10% as is invested at 6%. How much is invested in each of the funds.
a. set up the 3 linear equations in 3 variables
Show the 3 linear equations
s + e + t = 75,000
6s + 8e + 10t = 640000
2s + 0e - t = 0
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b. put the coefficients into an augmented matrix
1.....1.....1.....75000
6.....8....10.....640000
2.....0....-1.....0
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c. solve the matrix using any method you like
Put the solution in the box.
s = 20000
e = 15000
t = 40000
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Cheers,
Stan H.
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