SOLUTION: Maricopa's Success scholarship fund receives a gift of $ 125000. The money is invested in stocks, bonds, and CDs. CDs pay 5.25 % interest, bonds pay 4.6 % interest, and stocks pay
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Question 1143468: Maricopa's Success scholarship fund receives a gift of $ 125000. The money is invested in stocks, bonds, and CDs. CDs pay 5.25 % interest, bonds pay 4.6 % interest, and stocks pay 9.6 % interest. Maricopa Success invests $ 15000 more in bonds than in CDs. If the annual income from the investments is $ 8445 , how much was invested in each account?
Maricopa Success invested $
in stocks.
Maricopa Success invested $
in bonds.
Maricopa Success invested $
in CDs. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! x in CDs
x+15000 in bonds That total is 2x+15000
the rest is on stocks which must be 125000-(2x+15000) or 110000-2x
the income from interest is 0.0525x+(.046)(x+15000)+.096(110000-2x) and that equals $8445
0.0525x+0.046x+690+10560-0.192x=8445
-0.0935x=-2805
x=$30000 in CDs and pays $1575.
x+15000=$45000 in bonds and pays $2070
stocks are 125000-30000-45000=$50000 and pays $4800
