. Mutual Funds and College Tuition Revisited Refer to 33. Timmy is accepted into a

Chapter 2, Problem 34

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. Mutual Funds and College Tuition Revisited Refer to 33. Timmy is accepted into a university that charges $9000 per year in tuition and fees. As a result, Bill and Colleen decide to alter their investment plan by not investing in the TCW Small Cap growth fund. Instead, they will invest in Latin America International Stock fund, which has an average annual return of 21% over the 5-year period ending December 31, 2009. The other mutual funds in which they invest remain the same. (a) Write a system of equations that describes Bill and Colleens financial needs and restrictions as modified by the higher tuition and fees and the change in investment strategy. Be sure to name all variables. (b) Solve the system by writing its augmented matrix in reduced row echelon form. (c) Prepare a table showing various investment options. (d) What investment advice would you give to Bill and Colleen? Sources: collegeboard.com, Franklin Templeton