Inactive Tutor answered 02/11/21
C - money invested in CDs
B - money invested in Bonds
S - money invested in Stocks
You will need to solve this system of equations:
C + B + S = 150,000
B = C + 55,000
0.035C + 0.049B + 0.117S = 12,310
Good luck!
Angela Z.
asked 02/10/21Country Day's scholarship fund receives a gift of $ 150000. The money is invested in stocks, bonds, and CDs. CDs pay 3.5 % interest, bonds pay 4.9 % interest, and stocks pay 11.7 % interest. Country day invests $ 55000 more in bonds than in CDs. If the annual income from the investments is $ 12310 , how much was invested in each vehicle?
Inactive Tutor answered 02/11/21
C - money invested in CDs
B - money invested in Bonds
S - money invested in Stocks
You will need to solve this system of equations:
C + B + S = 150,000
B = C + 55,000
0.035C + 0.049B + 0.117S = 12,310
Good luck!
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