Question 1130528
CDs:
Principal = p
Rate = 0.0325
Interest = 0.0325p
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Bonds:
Principal = p + 30000
Rate = 0.043
Interest = 0.043(p + 30000) = 0.043p + 1290
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Stocks:
Principal = 170000 - p - (p + 30000) = 140000 - 2p
Rate = 0.065
Interest = 0.065(140000 - 2p) = 9100 - 0.13p
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Total interest:
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(0.0325p) + (0.043p + 1290) + (9100 - 0.13p) = 7392.50
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Simplify:
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-0.0545p + 10390 = 7392.50
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-0.0545p = -2997.50
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Solve for p:
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p = 55000
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From earlier:
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CDs:
Principal = p = 55000
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Bonds:
Principal = p + 30000 = 55000 + 30000 = 85000
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Stocks:
Principal = 140000 - 2p = 140000 - 110000 = 30000