Find $ax^5 + by^5$ if the real numbers $a$, $b$, $x$, and $y$ satisfy the equations $$ \left\{ \begin{aligned} ax+by&=3 \\ ax^{2}+by^{2}&=7 \\ ax^{3}+by^{3}&=16 \\ ax^{4}+by^{4}&=42 \end{aligned} \right. $$ with matrix form!
Interestingly, when I googled the equations, the problem comes from 1990 AIME Problems/Problem 15. The link gives two methods for the solution.
Is there a fashioned way to find the solution in matrix form?