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The problems in Exercises 61 − 82 correspond to those in Exercises 23 − 44 , Section 2.1 Use the results of your previous work to help you solve these problems. MUNICIPAL BONDS Kelly Fisher has a total of $30,000 invested in two municipal bonds that have yields of 4% and 5% interest per year, respectively. If the interest Kelly receives from the bonds in a year is $1320, how much does she have invested in each bond?

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Finite Mathematics for the Manager...

12th Edition
Soo T. Tan
Publisher: Cengage Learning
ISBN: 9781337405782

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Chapter
Section
BuyFindarrow_forward

Finite Mathematics for the Manager...

12th Edition
Soo T. Tan
Publisher: Cengage Learning
ISBN: 9781337405782
Chapter 2.2, Problem 64E
Textbook Problem
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The problems in Exercises 61 82 correspond to those in Exercises 23 44 , Section 2.1 Use the results of your previous work to help you solve these problems.

MUNICIPAL BONDS Kelly Fisher has a total of $30,000 invested in two municipal bonds that have yields of 4% and 5% interest per year, respectively. If the interest Kelly receives from the bonds in a year is $1320, how much does she have invested in each bond?

To determine

The amount invested in each bond

Explanation of Solution

Given:

Total amount is $30,000

Interest rate on one bond is 4%.

Interest rate on other bond is 5%.

Interest amount is $1320.

Calculation:

Let x is the amount deposited in the first bond and y is the amount deposited in the second bond. The total amount deposited is $30,000. So, the equation for the above condition is as follows,

x+y=30000

The formula to calculate the interest paid on x is given by,

I=interestrate×x

Substitute 4% for interest rate in the above equation.

I=4%×x=4100×x=0.04x

The formula to calculate the interest paid on y is given by,

I=interestrate×y

Substitute 5% for interest rate in the above equation.

I=5%×y=5100×y=0.05x

The interest paid on x is 0.04x, interest paid on y is 0.05y and the total interest paid is $1320, so the equation for the above condition is as follows,

0.04x+0.05y=1320

The equations for the given problem is as follows,

x+y=300000.04x+0.05y=1320

Write the above equations in augmented matrix form.

[110.040.05|300001320]

Apply operation R2R20.04R1 in the above matrix.

[110.040.05|300001320]R2R20

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Chapter 2 Solutions

Finite Mathematics for the Managerial, Life, and Social Sciences
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Compute (A+B)2. b....Ch. 2.5 - Let A=[2456] and B=[4873] a. Find AT and show that...Ch. 2.5 - Let A=[1321] and B=[3422] a. Find AT and show that...Ch. 2.5 - In Exercises 39-44, write the given system of...Ch. 2.5 - In Exercises 39-44, write the given system of...Ch. 2.5 - In Exercises 39-44, write the given system of...Ch. 2.5 - In Exercises 39-44, write the given system of...Ch. 2.5 - In Exercises 39-44, write the given system of...Ch. 2.5 - In Exercises 39-44, write the given system of...Ch. 2.5 - HOME SALES K in thousands of dollars at beginning...Ch. 2.5 - INVESTMENTS Megan manages three portfolios, I, II...Ch. 2.5 - STUDENT GRADES The grades of student in a finite...Ch. 2.5 - FOREIGN EXCHANGE Mason has just returned to the...Ch. 2.5 - INVESTMENTS Ashleys stock holding are given by a...Ch. 2.5 - COMPARATIVE SHOPPING Laura is planning to buy two...Ch. 2.5 - FOREIGN EXCHANGE Ava and her friend Ella have...Ch. 2.5 - REAL ESTATE Bond Brothers, a real estate...Ch. 2.5 - REAL ESTATE Refer to Exercise 52 Let B=[111] and...Ch. 2.5 - CHARITIES The amount of money raised by Charity I,...Ch. 2.5 - BOX-OFFICE RECIEPTS The cinema center consists of...Ch. 2.5 - BOX-OFFICE RECIEPTS Refer to Exercise 55. a. Find...Ch. 2.5 - VOTER AFFILIATION BY AGE Matrix A gives the...Ch. 2.5 - 401k RETIREMENT PLANS Three network consultants...Ch. 2.5 - College Admissions A university admissions...Ch. 2.5 - PRODUCTION PLANNING Refer to Example 6 in this...Ch. 2.5 - RIVER CRUISE SCHEDULE PLANNING Nordic River...Ch. 2.5 - AIRLINE FLIGHT SCHEDULING Pacific Airlines...Ch. 2.5 - SEAT-BELT USE The following table gives the seat...Ch. 2.5 - 64 REAL ESTATE Bond Brothers, a real estate...Ch. 2.5 - STUDENT GRADES Refer to exercise 50 in section...Ch. 2.5 - PRODUCTION PLANNING The total output of the...Ch. 2.5 - DIET PLANNING A dietician plans a meal around...Ch. 2.5 - SALES FORECASTING Hartman Lumber Company has two...Ch. 2.5 - In Exercises 69-72, determine whether the...Ch. 2.5 - In Exercises 69-72, determine whether the...Ch. 2.5 - In Exercises 69-72, determine whether the...Ch. 2.5 - In Exercises 69-72, determine whether the...Ch. 2.5 - In Exercises 1-8, refer to the following matrices,...Ch. 2.5 - In Exercises 1-8, refer to the following matrices,...Ch. 2.5 - In Exercises 1-8, refer to the following matrices,...Ch. 2.5 - In Exercises 1-8, refer to the following matrices,...Ch. 2.5 - In Exercises 1-8, refer to the following matrices,...Ch. 2.5 - In Exercises 1-8, refer to the following matrices,...Ch. 2.5 - In Exercises 1-8, refer to the following matrices,...Ch. 2.5 - In Exercises 1-8, refer to the following matrices,...Ch. 2.5 - In Exercises 9-12, refer to the following...Ch. 2.5 - In Exercises 9-12, refer to the following...Ch. 2.5 - In Exercises 9-12, refer to the following...Ch. 2.5 - In Exercises 9-12, refer to the following...Ch. 2.6 - What is the inverse of a matrix A?Ch. 2.6 - Explain how you would find the inverse of a...Ch. 2.6 - Give the formula for the inverse of the 22 matrix....Ch. 2.6 - Explain how the inverse of a matrix can be used to...Ch. 2.6 - In Exercises 14, show that the matrixes are...Ch. 2.6 - In Exercises 14, show that the matrixes are...Ch. 2.6 - In Exercises 14, show that the matrixes are...Ch. 2.6 - In Exercises 14, show that the matrixes are...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 516, find the inverse of the matrix,...Ch. 2.6 - In Exercises 1724, a write a matrix equation that...Ch. 2.6 - In Exercises 1724, a write a matrix equation that...Ch. 2.6 - In Exercises 1724, a write a matrix equation that...Ch. 2.6 - In Exercises 1724, a write a matrix equation that...Ch. 2.6 - In Exercises 1724, a write a matrix equation that...Ch. 2.6 - In Exercises 1724, a write a matrix equation that...Ch. 2.6 - In Exercises 1724, a write a matrix equation that...Ch. 2.6 - In Exercises 1724, a write a matrix equation that...Ch. 2.6 - In Exercises 2532, a write each system of...Ch. 2.6 - In Exercises 2532, a write each system of...Ch. 2.6 - In Exercises 2532, a write each system of...Ch. 2.6 - In Exercises 2532, a write each system of...Ch. 2.6 - In Exercises 2532, a write each system of...Ch. 2.6 - In Exercises 2532, a write each system of...Ch. 2.6 - In Exercises 2532, a write each system of...Ch. 2.6 - In Exercises 2532, a write each system of...Ch. 2.6 - Let A=[2345]. a. Find A1. b. Show that (A1)1=A.Ch. 2.6 - Let A=[6443] and B=[3547]. a. Find AB, A1 and B1....Ch. 2.6 - Let A=[2513] B=[4311] C=[2321] a. Find ABC, A1, B1...Ch. 2.6 - Let A=[2132] Show that (AT)1=(A1)T.Ch. 2.6 - Consider the matrix A=[223142669] in which one row...Ch. 2.6 - Find the matrix A if [2113]A=[3214]Ch. 2.6 - Find the matrix A if A[1231]=[2132]Ch. 2.6 - TICKET REVENUES Rainbow Harbor Cruises charges...Ch. 2.6 - PRICING PERSONAL PLANNERS BelAir Publishing...Ch. 2.6 - DIET PLANNING Bob, a nutritionist who works for...Ch. 2.6 - CROP PLANNING Jackson Farms has allotted a certain...Ch. 2.6 - LAWN FERTILIZERS Lawnco produces three grades of...Ch. 2.6 - INVESTMENT RISK AND RETURN A private investment...Ch. 2.6 - RESEARCH FUNDING The Carver Foundation funds three...Ch. 2.6 - In Exercises 4750, use the association (17) to...Ch. 2.6 - In Exercises 4750, use the association (17) to...Ch. 2.6 - In Exercises 4750, use the association (17) to...Ch. 2.6 - In Exercises 4750, use the association (17) to...Ch. 2.6 - Find the value (s) of k such that A=[12k3] has an...Ch. 2.6 - Find the value (s) of k such that A=[10111k12k2]...Ch. 2.6 - Find conditions on a and d such that the matrix...Ch. 2.6 - Find conditions a, b, and d such that the 22 upper...Ch. 2.6 - Determine the conditions on a and b for which the...Ch. 2.6 - Determine the conditions on a, b, c and d for...Ch. 2.6 - In Exercise 5761, determine whether the statement...Ch. 2.6 - In Exercise 5761, determine whether the statement...Ch. 2.6 - In Exercise 5761, determine whether the statement...Ch. 2.6 - In Exercise 5761, determine whether the statement...Ch. 2.6 - In Exercise 5761, determine whether the statement...Ch. 2.6 - Let A=[abcd] a.Find A1 if it exists. b.Find a...Ch. 2.6 - In Exercises 1-6, find the inverse of the matrix....Ch. 2.6 - In Exercises 1-6, find the inverse of the matrix....Ch. 2.6 - In Exercises 1-6, find the inverse of the matrix....Ch. 2.6 - In Exercises 1-6, find the inverse of the matrix....Ch. 2.6 - In Exercises 1-6, find the inverse of the matrix....Ch. 2.6 - In Exercises 1-6, find the inverse of the matrix....Ch. 2.6 - In Exercises 7-10, solve the system of linear...Ch. 2.6 - In Exercises 7-10, solve the system of linear...Ch. 2.6 - In Exercises 7-10, solve the system of linear...Ch. 2.6 - In Exercises 7-10, solve the system of linear...Ch. 2.7 - What do the quantities X, AX and D represent in...Ch. 2.7 - What is the solution to the matrix equation XAX=D?...Ch. 2.7 - AN INPUT-OUTPUT MODEL FOR A THREE-SECTOR ECONOMY A...Ch. 2.7 - AN INPUT-OUTPUT MODEL FOR A FOUR-SECTOR ECONOMY...Ch. 2.7 - In Exercise 36, use the input-output matrix A and...Ch. 2.7 - In Exercise 36, use the input-output matrix A and...Ch. 2.7 - In Exercise 36, use the input-output matrix A and...Ch. 2.7 - In Exercise 36, use the input-output matrix A and...Ch. 2.7 - Let A=[0.080.600.300.040.020.010.0200.06] Show...Ch. 2.7 - AN INPUT-OUTPUT MODEL FOR A TWO-SECTOR ECONOMY A...Ch. 2.7 - AN INPUT-OUTPUT MODEL FOR A TWO-SECTOR ECONOMY...Ch. 2.7 - AN INPUT-OUTPUT MODEL FOR A TWO-SECTOR ECONOMY...Ch. 2.7 - AN INPUT-OUTPUT MODEL FOR A THREE-SECTOR ECONOMY...Ch. 2.7 - AN INPUT-OUTPUT MODEL FOR A THREE-SECTOR ECONOMY...Ch. 2.7 - In Exercise 13-16, matrix A is an input-output...Ch. 2.7 - In Exercise 13-16, matrix A is an input-output...Ch. 2.7 - In Exercise 13-16, matrix A is an input-output...Ch. 2.7 - In Exercise 13-16, matrix A is an input-output...Ch. 2.7 - In Exercise 1-4, A is an input-output matrix...Ch. 2.7 - In Exercise 1-4, A is an input-output matrix...Ch. 2.7 - In Exercise 1-4, A is an input-output matrix...Ch. 2.7 - In Exercise 1-4, A is an input-output matrix...Ch. 2.CRQ - Fill in the blanks. a. Two lines in the plane can...Ch. 2.CRQ - Fill in the blanks: To find the points of...Ch. 2.CRQ - Fill in the blanks: The row operations used in the...Ch. 2.CRQ - Fill in the blanks: a. A system of linear...Ch. 2.CRQ - Fill in the blanks: Two matrices are equal...Ch. 2.CRQ - Fill in the blanks: Two matrices may be added...Ch. 2.CRQ - Fill in the blanks: The transpose of a/an matrix...Ch. 2.CRQ - Fill in the blanks: The scalar product of a matrix...Ch. 2.CRQ - Fill in the blanks: a. For the product AB of two...Ch. 2.CRQ - Fill in the blanks: a. If the products and sums...Ch. 2.CRQ - Fill in the blanks: A matrix A is an nonsingular...Ch. 2.CRQ - Fill in the blanks: A system of n linear equations...Ch. 2.CRE - In Exercises 1-4, perform the operations if...Ch. 2.CRE - In Exercises 1-4, perform the operations if...Ch. 2.CRE - In Exercises 1-4, perform the operations if...Ch. 2.CRE - In Exercises 1-4, perform the operations if...Ch. 2.CRE - In Exercises 5-8, find the values of the...Ch. 2.CRE - In Exercises 5-8, find the values of the...Ch. 2.CRE - In Exercises 5-8, find the values of the...Ch. 2.CRE - In Exercises 5-8, find the values of the...Ch. 2.CRE - In Exercises 9-16, compute the expressions if...Ch. 2.CRE - In Exercises 9-16, compute the expressions if...Ch. 2.CRE - In Exercises 9-16, compute the expressions if...Ch. 2.CRE - In Exercises 9-16, compute the expressions if...Ch. 2.CRE - In Exercises 9-16, compute the expressions if...Ch. 2.CRE - In Exercises 9-16, compute the expressions if...Ch. 2.CRE - In Exercises 9-16, compute the expressions if...Ch. 2.CRE - In Exercises 9-16, compute the expression if...Ch. 2.CRE - In Exercises 1724, solve the system of linear...Ch. 2.CRE - In Exercises 1724, solve the system of linear...Ch. 2.CRE - In Exercises 1724, solve the system of linear...Ch. 2.CRE - In Exercises 1724, solve the system of linear...Ch. 2.CRE - In Exercises 1724, solve the system of linear...Ch. 2.CRE - In Exercises 1724, solve the system of linear...Ch. 2.CRE - In Exercises 1724, solve the system of linear...Ch. 2.CRE - In Exercises 1724, solve the system of linear...Ch. 2.CRE - In Exercises 2532, find the inverse of the matrix...Ch. 2.CRE - In Exercises 2532, find the inverse of the matrix...Ch. 2.CRE - In Exercises 2532, find the inverse of the matrix...Ch. 2.CRE - In Exercises 2532, find the inverse of the matrix...Ch. 2.CRE - In Exercises 2532, find the inverse of the matrix...Ch. 2.CRE - In Exercise 2532, find the inverse of the matrix...Ch. 2.CRE - In Exercise 2532, find the inverse of the matrix...Ch. 2.CRE - In Exercise 2532, find the inverse of the matrix...Ch. 2.CRE - In exercise 3336, compute the value of the...Ch. 2.CRE - In exercise 3336, compute the value of the...Ch. 2.CRE - In exercise 3336, compute the value of the...Ch. 2.CRE - In Exercise 33-36, compute the value of the...Ch. 2.CRE - In Exercise 37-40, write each system of linear...Ch. 2.CRE - In Exercise 37-40, write each system of linear...Ch. 2.CRE - In Exercise 37-40, write each system of linear...Ch. 2.CRE - In Exercise 37-40, write each system of linear...Ch. 2.CRE - Gasoline Sales Gloria Newburg operates three...Ch. 2.CRE - STOCK TRANSACTIONSJack Spaulding bought 10,000...Ch. 2.CRE - Investments Joshs and Hannahs stock holdings are...Ch. 2.CRE - Investment portfolios The following table gives...Ch. 2.CRE - Production Scheduling Desmond Jewelry wishes to...Ch. 2.CRE - Petroleum Production Wildcat Oil Company has two...Ch. 2.CRE - Cruise Ships Crystal River Cruises is planning to...Ch. 2.CRE - INPUT-OUTPUT MATRICES The input-output matrix...Ch. 2.CRE - INPUT-OUTPUT MATRICES The matrix...Ch. 2.CRE - INPUT-OUTPUT MATRICESthe input-output matrix...Ch. 2.BMO - Solve the following system of linear equations,...Ch. 2.BMO - Find the solutions, if it exists, of the system of...Ch. 2.BMO - Solve each system of linear equations using the...Ch. 2.BMO - Let A=[124301]B=[112311210]C=[221134] Find a AB, b...Ch. 2.BMO - Find A1 if, A=[212013110]Ch. 2.BMO - Solve the system 2x+z=42x+yz=13x+yz=0 by first...

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