SOLUTION: Maricopa's Success scholarship fund receives a gift of $ 200000. The money is invested in stocks, bonds, and CDs. Stocks pay 6.9 % interest, bonds pay 5.7 % interest, and CDs pay 4

Algebra ->  Linear-equations -> SOLUTION: Maricopa's Success scholarship fund receives a gift of $ 200000. The money is invested in stocks, bonds, and CDs. Stocks pay 6.9 % interest, bonds pay 5.7 % interest, and CDs pay 4      Log On


   

Question 1175369: Maricopa's Success scholarship fund receives a gift of $ 200000. The money is invested in stocks, bonds, and CDs. Stocks pay 6.9 % interest, bonds pay 5.7 % interest, and CDs pay 4 % interest. Maricopa Success invests $ 10000 more in bonds than in CDs. If the annual income from the investments is $ 10400 , how much was invested in each account?
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
CDs=x
bonds=x+10000
stocks=200000-(2x+10000)=190000-2x
.069(190000-2x)+.057(x+10000)+.04(x)=10400
13110-.138x+.057x+570+.04x=10400
-0.041x=-3280
x=$80000 in CDs ($3200)
bonds =$90000 ($5130)
stocks=$30000 ($2070)