Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Convert to a linear system of 2 equations in 2 unknowns Solve the system and give the corresponding answer to the word problem An individual

Convert to a linear system of 2 equations in 2 unknowns Solve the system and give the corresponding answer to the word problem

image text in transcribed
An individual invests a total of $50,000 with an investment firm, and this amount is divided between two projects: project A and project B. Project A received a return of 12% interest in the first year, while project B received a return of 6% interest in the first year. The individual's total interest in the first year was $4,800 (on the combined investment) --{corredponding to 9.6% of the $50,000 invested} Find out how much of the investment was made in project A and how much was made in project B. a) Convert to a linear system of 2 equations in 2 unknowns. b) Solve the system and give the corresponding answer to the word

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Why Knot An Introduction To The Mathematical Theory Of Knots With Tangle

Authors: Colin Adams

1st Edition

0470413492, 978-0470413494

More Books

Students also viewed these Mathematics questions