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Set up the system of equations and then solve it by using an inverse matrix.

One safe investment pays 10% per year, and a more risky investment pays 18% per year. A woman has $144,800 to invest and would like to have an income of $20,000 per year from her investments. How much should she invest at each rate?
10% rate $
18% rate $

1 answer

If she invests x an y, then we have
x+y = 144800
.10x + .18y = 20000
Now just do that as a matrix equation.
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