Substitution method for solving the equations

Reference no: EM1314164

Question: Make a system of equations to solve the following problem. Be sure to identify what the variables represent. Then find the solution.

Ms. Jones purchased a total of $45,000 in bonds, stocks & money market funds. The total she invested in bonds & money market funds was twice the amount she invested in stocks. The return rates on the stocks, bonds, & money market funds were 10.0%, 7.0%, & 7.5%, respectively. The total value of the return was $3,660. How much of each investment (bonds, stocks & money market funds) did Ms. Jones purchase?

Reference no: EM1314164

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