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