Question
*Please answer FULL question and make answers clear and readable and I will give positive feedback. :) Thank you!* Set up the system of equations
*Please answer FULL question and make answers clear and readable and I will give positive feedback. :) Thank you!*
Set up the system of equations and then solve it by using an inverse matrix. A trust account manager has $3,000,000 to be invested in three different accounts. The accounts pay 6%, 8%, and 10%, and the goal is to earn $244,000 with the amount invested at 10% equal to the sum of the other two investments. To accomplish this, assume that x dollars are invested at 8%, y dollars at 10%, and z dollars at 6%. Find how much should be invested in each account to satisfy the conditions.
6% rate | $ |
8% rate | $ |
10% rate | $ |
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