document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=145006>Question 145006</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/061833291X/algebrahomeworkh>Finite Math and Applied Calculus</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> How do I set this up as an equation; i.e., x + 2y + z = $5000? Thank you. \r<BR>\n" );
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document.write( "An investor chooses to invest $5000 in the Global Equities, Money Market, and Social Choice accounts (shown below). She wants to put 5 times as much money in the Money Market account as in the Global Equities account. She assumes that she will be able to get a return equal to the 10-year average, and she wants the total return on her investment to be 7 percent.\r<BR>\n" );
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document.write( "How much money should she invest in each account? Round each percentage to the nearest whole-number.\r<BR>\n" );
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document.write( "Annuity Accounts                      10-Year Average\r<BR>\n" );
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document.write( "Global Equities                          6.96%\r<BR>\n" );
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document.write( "Money Market                             4.25%\r<BR>\n" );
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document.write( "Social Choice                            10.01%\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #105713 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=105713\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> An investor chooses to invest $5000 in the Global Equities, Money Market, and Social Choice accounts (shown below). She wants to put 5 times as much money in the Money Market account as in the Global Equities account. She assumes that she will be able to get a return equal to the 10-year average, and she wants the total return on her investment to be 7 percent. \r<BR>\n" );
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document.write( "How much money should she invest in each account? Round each percentage to the nearest whole-number. \r<BR>\n" );
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document.write( "Annuity Accounts 10-Year Average <BR>\n" );
document.write( "Global Equities 6.96% <BR>\n" );
document.write( "Money Market 4.25% <BR>\n" );
document.write( "Social Choice 10.01%<BR>\n" );
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document.write( "Let GE amount be \"x\"<BR>\n" );
document.write( "Then MM amount is \"5x\"<BR>\n" );
document.write( "And SC amount is \"5000-6x\"<BR>\n" );
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document.write( "Interest Equation:<BR>\n" );
document.write( "0.0696x + 0.0425(5x) + 0.1001(5000-6x) = 0.0700*5000<BR>\n" );
document.write( "Multiply thru by 10000 to get rid of the decimals:<BR>\n" );
document.write( "694x + 425*5x + 1001*5000-1001*6x = 700*5000<BR>\n" );
document.write( "-3187x +5005000 = 3500000<BR>\n" );
document.write( "-3187x = -1595000<BR>\n" );
document.write( "x = 472.23 (investment in GE)<BR>\n" );
document.write( "5x = 2361.15 (investment in MM)<BR>\n" );
document.write( "5000-6x = $2166.62 (investment in SC)<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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