Math Problem Statement
investments. Part of the money is invested in a savings account with an annual rate of interest of 6%, part in. 7% annual yield bonds, and the remainder in a business. In 2006, when he lost 6% of the money that he invested in that business, his net income from all three investments was 660. If he invested 3000 more in the business than in the savings account, how much was through matrix method
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Algebra
Systems of Equations
Matrix Method
Formulas
Income equation: 0.06x + 0.07y - 0.06z = 660
Business investment relation: z = x + 3000
Theorems
Matrix solution method for linear systems
Suitable Grade Level
Grades 11-12
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