business math college

Question

Country Day's scholarship fund receives a gift of $ 110000. The money is invested in stocks, bonds, and CDs. CDs pay 2 % interest, bonds pay 3.2 % interest, and stocks pay 8.4 % interest. Country day invests $ 45000 more in bonds than in CDs. If the annual income from the investments is $ 5160 , how much was invested in each vehicle?

Answer 1

.02C+.032B+.084S=5160

B=45,000+C

C+B+S=110,000

S=110-C-45-C

.02C+.032(45000+C)+.084(110000-C-45000-C)=5160

CD=$15,000

B= $60,000

S=$35,000

.02(15)+.032(60)+.084(35)

=.3+1.92+2.94

=5.16

=$5,160