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Write the following three linear equations in matrix format Ax = b, where x is a 3×1 vector containing q, p, and y, A is a 3×3 matrix of coefficients, and b is a 3×1 vector of constants.
q = 5 +3 p - 2 y
q = 10 - p + 10 y
p = 6 y
Insurance Contract
A legal agreement between an insurance company and the policyholder, which specifies the terms for the payment of insurance benefits.
Default
Failure to fulfill a financial obligation, especially failing to make payments on a loan, bond, or other debt instrument.
Nonfinancial Businesses
Companies primarily engaged in activities other than financial services, such as manufacturing, services, or retail.
Marketable Securities
Financial instruments that can be easily converted into cash, such as stocks, bonds, and Treasury bills.
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