You invest your $2500 COVID-19 stimulus check into 3 separate accounts. The Certificate of Deposit (CD)...

You invest your $2500 COVID-19 stimulus check into 3 separate accounts. The Certificate of Deposit (CD) pays 4% interest annually. The stock market pays 5% annually. The toilet paper hoarding business pays 10% annually. If the amount spent on the toilet paper hoarding business is $400 more than you spent on the CD, and the total interest gained is $169, how much money did you invest in each venture. Please show all your equations, and the matrix you used to solve this.

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Expert Solution

NOTE: Matrix inversion method is used.

#Dont forget to rate.

Colby Messinger answered 1 year ago

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