When a firm buys another company, the company frequently has some outstanding debt that the purchaser must pay. Consider three companies, A, B, and C, that are purchased by Maxx Industries. The following table gives the amount of each company’s debt, classified by the number of days remaining until the debt must be paid.

(a) Suppose Maxx Industries pays 20% of the amount owed on each loan. Write the matrix that would give the remaining debt in each category.

(b) What payment plan did Maxx Industries use if the outstanding debt is given by the following matrix?

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Company 30 Days 60 Days More Than 60 Days A $50,000 $52,000 $24,000 B 30,000 104,000 10,000 16,000 40,000 240,000