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Word problem. Matrices
The controller for a small company puts some money in a bank account paying 4% per year. He uses some additional money, amounting to (1)/(3) the amount placed in the bank, to buy bonds paying 5% per year. With the balance of the funds, he buys a 8% certificate of deposit. The first year the investments bring a return of 605 dollars. If the total of the investment is 10,000 dollars how much is invested at each rate? Suppose the condition that the amount used to buy bonds at 5% per year is equal to (1)/(3) of the amount placed in the bank is dropped. How is the solution changed?
The amount in the bank account is $? the amount in the bonds is $? and the amount in the certificate of deposit is $? |
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