A sum of $20,000 is invested in three mutual funds. In one year the first fund grew by 5%, the second by 7%, and the third by 10%. Total earnings for the year were $1650. The amount invested in the third fund was four times the amount invested in the first fund. a. Define your variables. b. Set up and solve a system of equations using Gaussian Elimination to find the amount invested in each fund.

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter9: Systems Of Equations And Inequalities
Section9.1: Systems Of Equations
Problem 25E
Question

2. A sum of $20,000 is invested in three mutual funds. In one year the first fund grew by 5%, the second by 7%, and the third by 10%. Total earnings for the year were $1650. The amount invested in the third fund was four times the amount invested in the first fund.

a. Define your variables.

b. Set up and solve a system of equations using Gaussian Elimination to find the amount invested in each fund.

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