To accommodate more depositors, new investment products were made available to the small businesses and single entities. These investment products pay varying interest ranging from 3% to 10% per annum. Grabbing this opportunity to earn, a young professional has invested money in three accounts that pay 5%, 7%, and 8% in annual interest. She has three times as much invested at 8% as she does at 5%. If the total amount she had invested is PhP 80,000 and obtained interest for the year with an amount of PhP 5,750, how much money does she have in each account? Formulate the system of equations generated by this investment problem. Solve using Inverse Matrix Method.
To accommodate more depositors, new investment products were made available to the small businesses and single entities. These investment products pay varying interest ranging from 3% to 10% per annum. Grabbing this opportunity to earn, a young professional has invested money in three accounts that pay 5%, 7%, and 8% in annual interest. She has three times as much invested at 8% as she does at 5%. If the total amount she had invested is PhP 80,000 and obtained interest for the year with an amount of PhP 5,750, how much money does she have in each account? Formulate the system of equations generated by this investment problem. Solve using Inverse Matrix Method.
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter1: Basic Concepts And Properties
Section1.CR: Review Problem Set
Problem 67CR: A crime-scene investigator has 3.4 ounces of a sample. He needs to conduct four tests that each...
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Transcribed Image Text:To accommodate more depositors, new investment products were made
available to the small businesses and single entities. These investment products pay
varying interest ranging from 3% to 10% per annum. Grabbing this opportunity to earn,
a young professional has invested money in three accounts that pay 5%, 7%, and 8% in
annual interest. She has three times as much invested at 8% as she does at 5%. If the
5.
total amount she had invested is PhP 80,000 and obtained interest for the year with an
amount of PhP 5,750, how much money does she have in each account? Formulate the
system of equations generated by this investment problem. Solve using Inverse Matrix
Method.
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