Formulate a system of equations for the situation below and solve. Michael Perez

Question

Formulate a system of equations for the situation below and solve. Michael Perez deposited a total of $4000 with two savings institutions. Bank A pays interest at the rate of 5%/year, whereas Bank B pays interest at the rate of 7%/year. If Michael earned a total of $268 in interest during a single year, how much did he deposit in each institution?

14. -0.18 points TanFin11 2.2.060. Notes Formulate a system of equations for the situation below and solve. Michael Perez deposited a total of $4000 with two savings institutions, Bank A pays interest at the rate of 5%/year, whereas Bank B pays interest at the rate of 7%/year. If Michael earned a total of $268 in interest during a single year, how much did he deposit in each institution? Bank A S Bank B $ Master It Talk to a Tutor 15. -10.18 points TanFin11 2.2.064 My Notes Formulate a system of equations for the situation below and solve. Cantwell Associates, a real estate developer, is planning to build a new apartment complex consisting of one-bedroom units and two- and three-bedroom townhouses. A total of 204 units is planned and the number of family units (two- and three-bedroom townhouses) will equal the number of one-bedroom units. If the number of one-bedroom units will be 3 times the number of three-bedroom units, find how many units of each type will be in the complex. one-bedroom units two-bedroom townhouses three-bedroom townhouses units units units Need Help? Talk to a Tutor

Explanation / Answer

set up as

x+y= 4000

0.05x +0.07y= 268

Multiply the 2nd row by 20

x+y=4000
x+1.4y=5360

Subtract the 2nd row from the 1st row

0.4y=1360

y=3400

hence

x = 4000 -3400 = 600

Thus

bank A= $600

bank B= $3400

==============

set up as

x+y+z =204

y+z =x

x =3z

hence

x =102

y=68

z= 34

Answer will be

one bedroom=102

two bedroom =68

three bedroom =34

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