SOLUTION: Maricopa's Success scholarship fund receives a gift of $ 145000. The money is invested in stocks, bonds, and CDs. CDs pay 4 % interest, bonds pay 5.7 % interest, and stocks pay 10.

Question 1198422: Maricopa's Success scholarship fund receives a gift of $ 145000. The money is invested in stocks, bonds, and CDs. CDs pay 4 % interest, bonds pay 5.7 % interest, and stocks pay 10.7 % interest. Maricopa Success invests $ 25000 more in bonds than in CDs. If the annual income from the investments is $ 11340 , how much was invested in each account?

Answer by ikleyn(52779) (Show Source): You can put this solution on YOUR website!
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Maricopa's Success scholarship fund receives a gift of $ 145000.
The money is invested in stocks, bonds, and CDs.
CDs pay 4 % interest, bonds pay 5.7 % interest, and stocks pay 10.7 % interest.
Maricopa Success invests $ 25000 more in bonds than in CDs.
If the annual income from the investments is $ 11340 , how much was invested in each account?
~~~~~~~~~~~~~~

Let x be the amount invested in CDs at 4%.

Then the amount invested in bonds is (x+25000)  dollars, according to the problem.

The amount invested at 10.7% is the rest  (145000 - x - (x+25000)) = 120000-2x dollars.


Next write the total interest equation

    0.04x + 0.057(x+25000) + 0.107*(120000-2x) = 11340  dollars.


Simplify and find x

    0.04x + 0.057x - 0.107*(2x) = 11340 - 0.057*25000 - 0.107*120000

            -0.117x             =       - 29255

                  x             =        =  25000.


ANSWER.  $25000 was invested at CD (at 4%);  $25000+$25000 = $50000 was invested in bonds at 5.7%
                and the rest 145000-75000 = 70000 dollars were invested in stocks (at 10.7%).


CHECK.  0.04*25000 + 0.057*50000 + 0.107*70000 = 11340 dollars, total annual interest.  ! correct !

Solved, using single equation in single unknown.

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