Question

Use the matrix method to solve the system of equations.
Investor Company loaned out a total of $36,000, part at 6% interest and part at 9% interest. They reported that the annual earnings from both investments were the same amount that would have been earned by the total loan if it had been invested at 8%. Find the amount loaned at each rate. Use matrix methods.
Amount loaned at 6% = $_____
Amount loaned at 9% = $_____

Answer 1

6%=12,000
9%=24,000

Answer 2

thank you so much!

Answer 3

wlcm