Question 1016109: please help me solve this : Moira inherited $15,000 and invested part of it in a money market account, part in municipal bonds and part in a mutual fund. After a year, she received a total of $730 simple interest from the 3 investments. The money market account paid 4% annually, the bonds paid 5% annually, and the mutual fund paid 6% annually. There was $2000 more invested in the mutual fund than in bonds. find the amount that Moira invested in each.
Answer by FrankM(1040)   (Show Source):
You can put this solution on YOUR website! MM+MF+B=15000
MM(.04)+MF(.06)+B(.05)=730
MF=B+2000
Let's take the first 2 equations. Multiply the second by 100
4MM+6MF+5B=73000
and multiply the first by -4
-4MM-4MF-4B=-60000
and add these two together.
2MF+B=13000
But, MF=B+2000 so ,
2(B+2000)+B=13000
2B+4000+B=13000
3B=9000
B = 3000
MF = 5000
MM = 7000 (just subtract the first 2 from 15000.)
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