Connor Invested a Total of $ 50,000 in Three

question 34

Essay

Connor invested a total of $ 50,000 in three different investments that yield 5%, 7% , and 10% per year, respectively. The total income per year from the three investments is $ 3,764 . If the income from the 7% investment is half the income of the 10% investment, what amount did Jose invest in each investment?
(a) Write the system of equations that will solve this problem. Do not solve.
(b) Write the system as a matrix equation A X=B . Do not solve.

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Definitions:

Marginal Utility per Dollar

The additional satisfaction or utility gained from consuming an additional unit of a good or service per unit of currency spent.

Utility-maximizing Consumer

A consumer who aims to get the highest level of satisfaction possible from their purchases, given their budget constraints.

Income Effect

The income effect describes how changes in consumers' income impact their purchasing choices, typically affecting the quantity of goods consumed.

Marginal Utility

The further benefit or pleasure derived by consuming an extra unit of a good or service.