Determine the system of equations for situation


Formulate the system of equations for situation below and solve. The private investment club has $220,000 earmarked for investment in stocks. To arrive at the acceptable overall level of risk, stocks which management is thinking have been categorized into 3 categories: high-risk, medium-risk, and low-risk. Management evaluates that high-risk stocks will have the return rate of 16%/year; low-risk stocks, 6%/year and medium-risk stocks, 9%/year. Members have made decision that investment in low-risk stocks must be equal to sum of investments in stocks of other 2 categories. Find how much club must invest in every kind of stock if investment goal is to have the return of $20,420/year on total investment. Suppose that all money available for investment is invested.

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Mathematics: Determine the system of equations for situation
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