Question

Set up the system of equations and then solve it by using an inverse matrix. A...

Set up the system of equations and then solve it by using an inverse matrix.

A trust account manager has $2,000,000 to be invested in three different accounts. The accounts pay 6%, 8%, and 10%, and the goal is to earn $168,000 with the amount invested at 10% equal to the sum of the other two investments. To accomplish this, assume that x dollars are invested at 8%, y dollars at 10%, and z dollars at 6%. Find how much should be invested in each account to satisfy the conditions.

8% rate     $
10% rate     $
6% rate     $
0 0
Add a comment Improve this question Transcribed image text
Request Professional Answer

Request Answer!

We need at least 10 more requests to produce the answer.

0 / 10 have requested this problem solution

The more requests, the faster the answer.

Request! (Login Required)


All students who have requested the answer will be notified once they are available.
Know the answer?
Add Answer to:
Set up the system of equations and then solve it by using an inverse matrix. A...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT