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Question 63494: You have $9,000 to invest in three Internet companies listed on the stock market. You expect the annual returns for companies A, B and C to be 10%, 9% and 6%, respectively. You want the combined investment in comapnies B and C to be twice that of company A. How much should you invest in each company to obtain an average return of 8%?
1.) Set up three equations.
2.) Solve using any of the differnt types of matrix equations, and state which method you are using.
** Please help me with this if you can, I have been trying for about an hour and a half now, and I am completley stumped!! THANK YOU!!
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! 1.) Set up three equations.
A+B+C=9000
2A=B+C
0.1A+0.09B+0.06C=0.13*9000
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Matrices:
1......1......1
2.....-1.....-1
0.10..0.09..0.06
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9000
0
1170
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Multiply the inverse of the 3 x 3 matrix times the 3 x 1 matris
to get the solution matrix:
A=3000
B=17000
C=-11000
Comment: This doesn't make any sense.
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2.) Solve using any of the differnt types of matrix equations, and state which method you are using.
Not sure what they mean by this.
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Cheers,
Stan H.
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