Maricopa's Success scholarship fund receives a gift of $65,000. The money is invested in stocks, bonds, and saving deposits. Stocks pay 8.3% interest, bonds pay 5.1% interest, and saving deposits pay 3.75% interest. Maricopa Success invests $15,000 less in bonds than in saving deposits. If the annual income from the investments is $3550, how much was invested in each account? Note: use matrix to solve this problem.
Maricopa's Success scholarship fund receives a gift of $65,000. The money is invested in stocks, bonds, and saving deposits. Stocks pay 8.3% interest, bonds pay 5.1% interest, and saving deposits pay 3.75% interest. Maricopa Success invests $15,000 less in bonds than in saving deposits. If the annual income from the investments is $3550, how much was invested in each account? Note: use matrix to solve this problem.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter6: Systems Of Linear Equations And Inequalities
Section6.1: Graphing Systems Of Equations
Problem 59PFA
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