Solve the following two problems. Then, post your solution path for each problem into your group’s Forum. (Next week, your group will discuss the posted solutions and agree on a Final Draft of a solution path for each problem.)
#1: (Section 2.2)
Nigel received a gift of $10,000 and decided to invest it in three types of accounts: U.S. Savings Bonds; Mutual Funds; Money Markets. The Bonds earn 2.5% interest per year, the Mutual Funds earn 6%, and the Money Markets earn 4.5%. Part of Nigel’s decision was to invest twice as much in Mutual Funds as Bonds and the rest went into Money Markets. At the end of the year, he received $470 in interest. How much did Nigel invest in each account? Determine your system of equations and use Gauss-Jordan Elimination Method to solve.
#2: (Section 2.3)
There are three convenience stores in the town of Finite, IU. Last week, The East Store sold 88 loaves of bread, 48 qt of milk, 16 jars of peanut butter, and 112 lb of lunch meat. The North Store sold 105 loaves of bread, 72 qt of milk, 21 jars of peanut butter, and 147 lb of lunch meat. The West Store sold 60 loaves of bread, 40 qt of milk, no peanut butter, and 50 lb of lunch meat.
a) Use a 4×3 matrix to express the sales information for the three stores last week.
b) This week, the sales at each store increased: 25% at the East Store, at North Store, and 10% at West Store. Write a second matrix to express this data. 3 1
c) Write a matrix that represents total sales over the two-week period.