For Exercise, set up a system of linear equations to represent the scenario. Solve the system by using Gaussian elimination or Gauss-Jordan elimination. Sylvia invested a total of $40,000. She invested part of the money in a certificate of deposit (CD) that earns 2% simple interest per year. She invested in a stock that returns the equivalent of 8% simple interest, and she invested in a bond fund that returns 5%. She invested twice as much in the stock as she did in the CD, and earned a total of $2300 at the end of 1 yr. How much principal did she put in each investment?
For Exercise, set up a system of linear equations to represent the scenario. Solve the system by using Gaussian elimination or Gauss-Jordan elimination. Sylvia invested a total of $40,000. She invested part of the money in a certificate of deposit (CD) that earns 2% simple interest per year. She invested in a stock that returns the equivalent of 8% simple interest, and she invested in a bond fund that returns 5%. She invested twice as much in the stock as she did in the CD, and earned a total of $2300 at the end of 1 yr. How much principal did she put in each investment?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter9: Quadratic Functions And Equations
Section9.7: Solving Systems Of Linear And Quadratic Equations
Problem 30HP
Related questions
Question
For Exercise, set up a system of linear equations to represent the scenario. Solve the system by using Gaussian elimination or Gauss-Jordan elimination.
Sylvia invested a total of $40,000. She invested part of the money in a certificate of deposit (CD) that earns 2% simple interest per year. She invested in a stock that returns the equivalent of 8% simple interest, and she invested in a bond fund that returns 5%. She invested twice as much in the stock as she did in the CD, and earned a total of $2300 at the end of 1 yr. How much principal did she put in each investment?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 8 steps with 4 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
