If the annual income from the investments is $ 10125 , how much was invested in each account?

Question

Maricopa's Success scholarship fund receives a gift of $ 130000. The money is invested in stocks, bonds, and CDs. CDs pay 3.25 % interest, bonds pay 2.1 % interest, and stocks pay 11.2 % interest. Maricopa Success invests $ 30000 more in bonds than in CDs. If the annual income from the investments is $ 10125 , how much was invested in each account?

Maricopa Success invested $   in stocks.

Maricopa Success invested $   in bonds.

Maricopa Success invested $   in CDs.

Answer 1

$40,000 invested in bonds.

$10,000 in CD's

$80,000 in stocks

2.1% of $40K + 3.25% of $10K + 11.2% of $80K = $10.125 K

$.84K + $.325K + $8.96K = $10.125K where K= 1000

.021B + .0325C + .112S = 10,125 Equation I

B + C + S = 130,000

.021B +.021C + .021S = .021(130000)= 2730 Equation II

subtract Equation II from Equation I

.0115C + .091S = 7395 Equation III

B=C+30000

C+30000+C + S = 130000

2C + S = 100000

.182C +.091S = 9100 Equation IV

subtract Equation III from Equation IV

.1705C = 1705

C = 1705/.1705 = 10,000

B = C+30000 = 40,000

S = 130,000-10,000-40,000 = 80,000