Formulate the situation as a system of two linear equations in two variables. Be sure to state clearly the meaning of your x- and y-variables. Solve the system by the elimination method. Be sure to state your final answer in terms of the original question. A lawyer has found 60 investors for a limited partnership to purchase an inner-city apartment building, with each contributing either $4,000 or $8,000. If the partnership raised $320,000, then how many investors contributed $4,000 and how many contributed $8,000? X = $4,000 investors $8.000 investors
Formulate the situation as a system of two linear equations in two variables. Be sure to state clearly the meaning of your x- and y-variables. Solve the system by the elimination method. Be sure to state your final answer in terms of the original question. A lawyer has found 60 investors for a limited partnership to purchase an inner-city apartment building, with each contributing either $4,000 or $8,000. If the partnership raised $320,000, then how many investors contributed $4,000 and how many contributed $8,000? X = $4,000 investors $8.000 investors
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter14: Partnerships And Limited Liability Entities
Section: Chapter Questions
Problem 33P
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2.6h
Transcribed Image Text:Formulate the situation as a system of two linear equations in two variables. Be sure to state clearly the meaning of your x- and y-variables. Solve the system by the
elimination method. Be sure to state your final answer in terms of the original question.
A lawyer has found 60 investors for a limited partnership to purchase an inner-city apartment building, with each contributing either $4,000 or $8,000. If the partnership
raised $320,000, then how many investors contributed $4,000 and how many contributed $8,000?
X =
$4,000 investors
y =
$8,000 investors
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