Solution-Formulate a system of equations for the situation

Formulate a system of equations for the situation

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Formulate a system of equations for the situation below and solve. Mr. and Mrs. Garcia have a total of $100,000 to be invested in stocks, bonds, and a money market account. The stocks have a rate of return of 15%/year, while the bonds and the money market account pay 10%/year and 5%/year, respectively. The Garcias have stipulated that the amount invested in the money market account should be equal to the sum of 20% of the amount invested in stocks and 10% of the amount invested in bonds. How should the Garcias allocate their resources if they require an annual income of $12,500 from their investments?

Reference no: EM131397276

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Formulate a system of equations for the situation

Reference no: EM131397276

Reference no: EM131397276

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