Math question Homework

Question

Country Day's scholarship fund receives a gift of $ 140000. The money is invested in stocks, bonds, and CDs. CDs pay 5.75 % interest, bonds pay 5.2 % interest, and stocks pay 6.4 % interest. Country day invests $ 10000 more in bonds than in CDs. If the annual income from the investments is $ 8100 , how much was invested in each vehicle?

Answer 1

0.0575C + 0.052B + 0.064S = 8,100

B = 10,000 + C

C+B+S = 140,000

3 equations 3 unknowns

solve for C,B and S by substitution, elimination or matrix algebra

C= amount invested in CD's

B = amount invested in Bonds

S = amount invested in Stocks