A student invested 1300 in account that pays 4% annual compound interest. He will not make any additional deposits or withdraws.
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We are given a system of equations,
This will translate into a 2x2 matrix of coefficients (because 2 equations and 2 unknowns),
The matrix will then be applied to the vector (lower dimensions on top),
And the result vector will be whats on the other side of equals sign,
So to put everything together,
Hope this helps :)