Debt payment Ace, Baker, and Champ are being purchased by ALCO, Inc., and their outstanding debts…
Debt payment Ace, Baker, and Champ are being purchased by ALCO, Inc., and their outstanding debts must be paid by the purchaser. The matrix below gives the amounts of debt and the terms for the companies being purchased.
(a) If ALCO pays 35% of the amount owed on each debt, write the matrix giving the remaining debts.
(b) Suppose ALCO decides to pay 80% of all debts due in 30 days and to increase the debts due in 60 days by 20%. Write a matrix that gives the debts after these transactions are made.
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