Formulate a system of equations for the situation below and solve. Michael Perez
ID: 2888646 • Letter: F
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 TutorExplanation / 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