Question 1146923
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(1) Use the given numbers to write an expression for the total amount of interest using a single variable.<br>
Let {{{x}}} = amount in CDs
Then {{{(x+20000)}}} = amount in bonds ($20,000 more than in CDs)
And then {{{(190000-(x+(x+20000))) = 170000-2x}}} = amount in stocks (the total $190,000, minus the amounts in CDs and bonds)<br>
interest from CDs: {{{0.025(x)}}}
interest from bonds: {{{0.036(x+20000)}}}
interest from stocks: {{{0.072(170000-2x)}}}<br>
(2) Write and solve the equation that says the total interest is $8395:<br>
{{{0.025(x)+0.036(x+20000)+0.072(170000-2x) = 8395}}}<br>
Basic algebra; although some of the calculations look ugly....<br>
Or, if an algebraic solution is not required, the equation is easily solved using a graphing calculator.<br>
Then, of course, after solving for x, you need to use that value to determine the amounts invested in each place.