SOLUTION: Green River Community College's scholarship fund receives a gift of $ 190000. The money is invested in stocks, bonds, and CDs. CDs pay 2.5 % interest, bonds pay 3.6 % interest, and

Question 1146923: Green River Community College's scholarship fund receives a gift of $ 190000. The money is invested in stocks, bonds, and CDs. CDs pay 2.5 % interest, bonds pay 3.6 % interest, and stocks pay 7.2 % interest. GRCC invests $ 20000 more in bonds than in CDs. If the annual income from the investments is $ 8395 , how much was invested in each vehicle?
GRCC invested $ in stocks.
GRCC invested $ in bonds.
GRCC invested $ in CDs.

Answer by greenestamps(13200) (Show Source): You can put this solution on YOUR website!

(1) Use the given numbers to write an expression for the total amount of interest using a single variable.

Let = amount in CDs
Then = amount in bonds ($20,000 more than in CDs)
And then = amount in stocks (the total $190,000, minus the amounts in CDs and bonds)

interest from CDs:
interest from bonds:
interest from stocks:

(2) Write and solve the equation that says the total interest is $8395:

Basic algebra; although some of the calculations look ugly....

Or, if an algebraic solution is not required, the equation is easily solved using a graphing calculator.

Then, of course, after solving for x, you need to use that value to determine the amounts invested in each place.
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