K & R Builders build three models of houses, M1, M2, and M3, in three subdivisions, I, II, and III, located in three different areas of a city. The prices of the houses (in thousands of dollars) are given in matrix A.   M1 M2 M3 I 300 360 380 410 420 450 620 680 700 A = II III   K & R Builders has decided to raise the price of each house by 3% next year. Write a matrix B giving the new prices of the houses.

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We are given a matrix which has the prices of models of buildings in three different areas. The prices of all houses will be increased by 3%; we are asked to write a matrix with the new prices.

The original price matrix will be:


where each column describes a model of the houses, and each row describes the area.

To increase the price by 3%, we would...

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