Maricopa's Success scholarship fund receives a gift of $ 165000.

Question

Maricopa's Success scholarship fund receives a gift of $ 165000. The money is invested in stocks, bonds, and CDs. CDs pay 6 % interest, bonds pay 4.1 % interest, and stocks pay 11.5 % interest. Maricopa Success invests $ 75000 more in bonds than in CDs. If the annual income from the investments is $ 12135 , how much was invested in each account?

Maricopa Success invested $    in stocks.

Maricopa Success invested $    in bonds.

Maricopa Success invested $    in CDs.

Answer 1

These used to get me, too. Let's see what we can do.

b = c + 75000

s = 165000 - b - c = 165000 - c - 75000 - c = -2c + 90000

0.115(-2c + 90000) + 0.041(c + 75000) + 0.06c = 12135

-0.23c + 10350 + 0.041c + 3075 + 0.06c = 12135

-0.129c = -1290

c = $10,000

b = 10000 + 75000 = $85,000

s = 165,000 - 85,000 - 10,000 = $70,000