Answer:
Pierre invested:
- $9,000 in money market account
- $135,050 in stocks
- $125,050 in the mutual fund
Step-by-step explanation:
A = money market account
B = stocks
C = mutual fund
A + B + C = 269,100
0.031A + 0.04B - 0.02C = 3,180
B = 10,000 + C (we will first replace B)
A + 10,000 + C + C = 269,100
A + 2C = 259,100
0.031A + 0.04(10,000 + C) - 0.02C = 3,180
0.031A + 400 + 0.04C - 0.02C = 3,180
0.031A + 0.02C = 2,780
A + 2C = 259,100
-100(0.031A + 0.02C) = -100 · 2,780
A + 2C = 259,100
-3.1A - 2C = -278,000
-2.1A = -18,900
A = -18,900 / -2.1 = $9,000
C = (259,100 - 9,000) / 2 = $125,050
B = $125,050 + $10,000 = $135,050
