Begin by determining the unknowns. Then, make an organized table to write the system.
Amount in a Savings Account: $2200 Amount in Government Bonds: $4400 Amount in a Mutual Fund: $3400
Practice makes perfect
We will begin by determining the unknowns.
Amount in a Savings Account:& x
Amount in Government Bonds:& 2 x
Amount in a Mutual Fund:& y
Now that the unknowns have been determined, we can use an organized table to write the equations.
Verbal Expression
Algebraic Expression
The bonus received is $10 000.
x+2 x+ y=10 000
Income from the investments is $455.
( 4.5 %) x+( 5 %)2 x+( 4 %) y=455
Let's rewrite the percentages from the second equation as percent proportions.
(4.5 %)x+(5 %)2x+(4 %)y=455 &
⇓
4.5100x+( 5100)2x+ 4100y=455
We have two equations to form a system of equations.
x+2x+y=10 000 & (I) 4.5100x+( 5100)2x+ 4100y=455 & (II)
Because none of the terms is isolated, using the Elimination Method will be more efficient than using the Substitution Method.
x+2x+y=10 000 & (I) 4.5100x+( 5100)2x+ 4100y=455 & (II)
Finally, we can write the amount of money in each account and bond.
Amount in a Savings Account:& $2200
Amount in Government Bonds:& $4400
Amount in a Mutual Fund:& $3400
