Loans A bank gives three loans totaling $400,000to a development company for the purchase of threebusiness properties. The largest loan is $100,000more than the sum of the other two, and the smallestloan is one-half of the next larger loan. Represent the amount of money in each loan as x, y, and z,respectively.a. Write a system of three equations in threevariables to represent the problem.b. Use a matrix equation to solve the system and findthe amount of each loan.

Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Systems Of Linear Equations
Section1.2: Guassian Eliminationa And Guass-jordan Elimination
Problem 48E
icon
Related questions
Question

Loans A bank gives three loans totaling $400,000
to a development company for the purchase of three
business properties. The largest loan is $100,000
more than the sum of the other two, and the smallest
loan is one-half of the next larger loan. Represent

the amount of money in each loan as x, y, and z,
respectively.
a. Write a system of three equations in three
variables to represent the problem.
b. Use a matrix equation to solve the system and find
the amount of each loan.

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps

Blurred answer
Knowledge Booster
Matrix Operations
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.
Recommended textbooks for you
Elementary Linear Algebra (MindTap Course List)
Elementary Linear Algebra (MindTap Course List)
Algebra
ISBN:
9781305658004
Author:
Ron Larson
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College