(x, y) = (7, -5)
<h3>Step-by-step explanation:</h3>It generally works well to follow directions.
The matrix of coefficients is ...
Its inverse is the transpose of the cofactor matrix, divided by the determinant. That is ...
So the solution is the product of this and the vector of constants [-6, -50]. That product is ...
... x = (3·(-6) +(-4)(-50))/26 = 7
... y = (5·(-6) +2·(-50))/26 = -5
The solution using inverse matrices is ...
... (x, y) = (7, -5)
The amount will be equal to $1348.07. The correct option is A.
<h3>What is compound interest?</h3>Compound interest is the interest levied on the interest. The formula for the calculation of compound interest is given as:-
Compound Interest Formula:
A = Account Balance
P = Principle/Initial Amount
r = Rate of Interest (decimal)
n = Number of times compounded (per year)
t = Number of Years
Given Information
Account Balance = ?
It is given that the balance after 15 years in a savings account earns 2% interest compounded bi-monthly when the initial deposit is 1000.
This is because we are gaining money, so the multiplier should be greater than 1. We already added 1, which is 100% so you simply add the 0.02 for the extra 2%.
Number of times compounded per year = 6
This is because it is being compounded bi-monthly, or once every 2 months. 12 months divided by 2 months is 6 months, so 6 times a year.
Number of years = 15
Solve by plugging the given values into the formula.
A = 1000 x (1.14)
A = $1348.07.
Therefore, the amount will be equal to $1348.07. The correct option is A.
To know more about Compound interest follow
#SPJ1