ASRJC Tutorial 3 System of Linear Equations Q7

Sherry has an initial sum of \({\$35 000}\) which she divided into three portions \(A\), \(B\) and \(C\).

She is considering placing the portions of money into three separate banks that provide returns through savings account and investment account. The following table shows the returns on savings account and investment account provided by the three banks for a period of one year:

Sherry did some calculations and realized that:

I. If she were to place the portions of money \(A\), \(B\) and \(C\) into the savings accounts of POSD, OCBB and Non-Standard banks respectively, her total returns will be \(\$151.15\) at the end of a year.

II. If she were to invest the portions of money \(A\), \(B\) and \(C\) through the investment accounts of POSD, OCBB and Non-Standard banks respectively, her total returns will be \(\$426\) at the end of a year.

1. Find the exact amounts of the three portions of money \(A\), \(B\) and \(C\).[3]
2. Sherry decides that she will place one of the portions of her money into the savings account of one bank and the remaining two portions into the investment accounts of the remaining two banks separately. Determine the maximum amount of money she can have after a period of one year.[2]