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

use matrix to solve

x= stocks , y= bonds ,z= Cd's

set-up the following system of equations

0x+y-z=30000

.112x+.021y+.0325z=10125

x+y+z=130000

the above become a 3x3 matrix, using TI calculator

x=80000 stock

y=40000 bonds

z=10000 cd's