Solving a Real-World Problem Using a System of Three Equations in Three Variables
In the problem posed at the beginning of the section, Jordi invested his inheritance of $12,000 in three different funds: part in a money-market fund paying 3% interest annually; part in municipal bonds paying 4% annually; and the rest in mutual funds paying 7% annually. Jordi invested $4,000 more in mutual funds than he invested in municipal bonds. The total interest earned in one year was $670. How much did he invest in each type of fund?
OpenStax, Algebra and Trigonometry 2e · §11.2 Systems of Linear Equations: Three Variables · Example 5
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