2. Students were asked to formulate the system of equations needed to solve the following problem:Bob and June have $100,000 that they wish to invest in three different stock funds. Fund A has a rate ofreturn of 12%/year. Fund B has a rate of return of 9% / year. Fund C has a rate of return of 7%/year.Bob insists that they invest twice as much in Fund B as in Fund C and June says, "I'm okay with that but Iwant a return of $9,000/year on the total investment." How much do Bob and June need to invest ineach fund?Several students wrote the following and it was marked incorrect:Let x = amount invested in Fund A, y = amount invested in Fund B, z = amount invested in Fund Cx+y+z=9,0002y=z0.12x+0.09y+0.07z=100,000Cross out the mistakes and make corrections. You do not need to solve the system of equations.

2.Bob and June have $100,000 that they wish to invest in three different stock funds. Fund A has a…

Answered: 2. Students were asked to formulate the…

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter14: Sequences And Mathematical Induction

Section14.3: Another Look At Problem Solving

Problem 29PS

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Similar questions

If during the following year it is predicted that each comedy skit will generate 30 thousand and each musical number 20 thousand, find the maximum income for the year. A television program director must schedule comedy skits and musical numbers for prime-time variety shows. Each comedy skit requires 2 hours of rehearsal time, costs 3000, and brings in 20,000 from the shows sponsors. Each musical number requires 1 hour of rehearsal time, costs 6000, and generates 12,000. If 250 hours are available for rehearsal and 600,000 is budgeted for comedy and music, how many segments of each type should be produced to maximize income? Find the maximum income.
3) You have $50,000 and wish to invest part at 10% and the rest at 6%. How much should be invested at each rate to produce the same return as if it all had been invested at 9%?
Jed and Ej decided that their profit and loss sharing ratio should be equal to their initial capital investment. If Jed and Ej had capital balances of P 200, 000.00 and P 100, 000.00, respectively, how much profit would Ej get if Jed got P 50,000.00 for last year?
A Tom and Jerry decided that their profit and loss sharing ratio should be equal to their initial capital investment. If Tom and Jerry had capital balances of P300,000.00 and P200,000.00, respectively, how much profit would Jerry get if Tom got P75,000.00 for last year?
One safe investment pays 8% per year, and a more risky investment pays 14% per year. a. How much must be invested in each account if an investor of $93,000 would like a return of $8,640 per vear? b. Why might the investor use two accounts rather than put all the money in the 14% investment? a. $ is invested in the 8% account. is invested in the 14% account. b. Why might the investor use two accounts? O A. The 14% account does not earn asluch interest as the 8% account O B. The 14% investment is riskier than the 8% investment, There is a qreater chance the investor will lose money if it is all placed in the 14% account. O C. Investing in two accounts always yields more money than investing in just one account. O D. Although the 14% account earns more interest, the 8% account has no hidden fees. O Time Remaining: 01:59:08 Next 9:59 PM 44°F Partly cloudy P Type here to search 12/10/20.
You have $750,000 in an IRA (Individual Retirement Account) at the time you retire. You have the option of investing this money in two funds: Fund A pays 5.1% annually and Fund B pays 7.6% annually. How should you divide your money between Fund A and Fund B to produce an annual interest income of $52,000? You should invest $ in Fund A and $ in Fund B.
3. Suppose an amount of money is invested at 8% per year. An additional amount of money equal to twice the first investment amount is invested at 5% per year. If, after one year, the total interest earned on the two investments is $405, how much was invested at each rate? (Note: Using a “guess-and-check" strategy to obtain a correct answer will not receive full credit.)

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