andan has a total of 50000 investment in three different investment schemes: part in a fixed deposit paying 6% annually; part in government security bonds paying 7% annually, and remaining in mutual funds paying 11% annually. Nandan invested 10000 more in fixed deposit than he invested in mutual funds. The annual returns on Nandan’s three investment amounted to 4600. a. Write the system of linear equations for the given scenario. b. Write the resultant system in matrix form. c. Determine the amount he invested in each type of investment schemes. d. Compute the amount he earned from each investment schemes when the total amount invested and total annual returns are 40000 and 3120 respectively. 5 5
andan has a total of 50000 investment in three different investment schemes: part in a fixed deposit paying 6% annually; part in government security bonds paying 7% annually, and remaining in mutual funds paying 11% annually. Nandan invested 10000 more in fixed deposit than he invested in mutual funds. The annual returns on Nandan’s three investment amounted to 4600. a. Write the system of linear equations for the given scenario. b. Write the resultant system in matrix form. c. Determine the amount he invested in each type of investment schemes. d. Compute the amount he earned from each investment schemes when the total amount invested and total annual returns are 40000 and 3120 respectively. 5 5
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter6: Matrices And Determinants
Section: Chapter Questions
Problem 4CC
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Nandan has a total of 50000 investment in three different investment schemes: part in a fixed deposit paying 6% annually; part in government security bonds paying 7% annually, and remaining in mutual funds paying 11% annually. Nandan invested 10000 more in fixed deposit than he invested in mutual funds. The annual returns on Nandan’s three investment amounted to 4600. a. Write the system of linear equations for the given scenario. b. Write the resultant system in matrix form. c. Determine the amount he invested in each type of investment schemes. d. Compute the amount he earned from each investment schemes when the total amount invested and total annual returns are 40000 and 3120 respectively. 5 5
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