Solving a Stock and Savings Investment Application Using a System of Equations
Consider an investment of $ divided between a stock fund earning interest per year and a savings account earning interest per year. The goal is to earn a total of interest on the investment in one year. Let be the amount in stocks and be the amount in savings. The system of equations is: The second equation simplifies to . Solving this system yields and . Thus, $ is invested in the stock fund and $ in the savings account.
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Intermediate Algebra @ OpenStax
Ch.4 Systems of Linear Equations - Intermediate Algebra @ OpenStax
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