Answer:
$8,240
Step-by-step explanation:
We are given that,
Principle amount in the savings account, P = $5,000.
Rate of interest, r = 5% = 0.05
Time period, t = 10
Also, the interest is compounded monthly, n = 12
As, we now that the value of the investment is given by
Thus, we have,
Investment Value =
i.e. Investment Value =
i.e. Investment Value =
i.e. Investment Value =
i.e. Investment Value = $8,240
Hence, the investment amount after 10 years is $8,240.
We want to find the values of a, b, c, and d such that the given matrix product is equal to a 2x2 identity matrix. We will solve a system of equations to find:
<h3>Presenting the equation:</h3>
Basically, we want to solve:
The matrix product will be:
Then we must have:
-b + 2 = 1
This means that:
b = 2 - 1 = 1
We also need to have:
a*b + 1 = 0
we know the value of b, so we just have:
a*1 + b = 0
Now the two remaining equations are:
-c + 2d = 0
a*c + d = 1
Replacing the value of a we get:
-c + 2d = 0
-c + d = 1
Isolating c in the first equation we get:
c = 2d
Replacing that in the other equation we get:
-(2d) + d = 1
-d = 1
Then:
c = 2d = 2*(-1) = -2
So the values are:
If you want to learn more about systems of equations, you can read: