bc210210973

Ayesha Aziz

SOLUTION NO.1:
To solve this question using matrices, Ist we can convert the statement in equation
form:
Let,
X= price per dozen eggs,
Y= price per bread.
Equation:
16x+10y=332
10x+8y=225
Equation into matrices from:

To find “x”, calculate X=

First step: inverse of matrix A:

2 step: Now we can perform matrix multiplication:

nd

X=

Therefore,
The price per dozen eggs (x) is approximately 132.40
The price per bread (y) is approximately 104.50

SOLUTION 02 
To calculate future value of retirement account, the formula we use:

where
P= payment per period
r= interest rate per period
n= number of period
In this case:
P= $2400/ year
r= 7% or 0.07
n= 30 years.
Putting these values in formula given above:
FV= 2400*
FV= $236081.16
To solve this problem in MS Excel, Excel formula is:
=FV(rate, nper, pmt, [pv], [type] )
We can put values in formula in excel’s cell as follows:
=FV(7%, 30, 2400)
This will give the same result of approximately $236081.16