Investment An inheritance of $40,000 is divided among three investments yielding $3500 in interest per year. The interest rates for the three investments are 7 % , 9 % , and 11 % simple interest. Find the amount placed in each investment when the second and third amounts are $3000 and $5000 less than the first, respectively.
Investment An inheritance of $40,000 is divided among three investments yielding $3500 in interest per year. The interest rates for the three investments are 7 % , 9 % , and 11 % simple interest. Find the amount placed in each investment when the second and third amounts are $3000 and $5000 less than the first, respectively.
Solution Summary: The author calculates that an inheritance of 40,000 is divided among the three investments which yield a yield of 3500 per year.
Investment An inheritance of
$40,000
is divided among three investments yielding
$3500
in interest per year. The interest rates for the three investments are
7
%
,
9
%
,
and
11
%
simple interest. Find the amount placed in each investment when the second and third amounts are
$3000
and
$5000
less than the first, respectively.
I want to learn this topic l dont know anything about it
Solve the linear system of equations attached using Gaussian elimination (not Gauss-Jordan) and back subsitution.
Remember that:
A matrix is in row echelon form if
Any row that consists only of zeros is at the bottom of the matrix.
The first non-zero entry in each other row is 1. This entry is called aleading 1.
The leading 1 of each row, after the first row, lies to the right of the leading 1 of the previous row.
Finite Mathematics for Business, Economics, Life Sciences and Social Sciences
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.
Compound Interest Formula Explained, Investment, Monthly & Continuously, Word Problems, Algebra; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=P182Abv3fOk;License: Standard YouTube License, CC-BY
Applications of Algebra (Digit, Age, Work, Clock, Mixture and Rate Problems); Author: EngineerProf PH;https://www.youtube.com/watch?v=Y8aJ_wYCS2g;License: Standard YouTube License, CC-BY