With this annual income , how much was invested in each account?

Question

Maricopa's Success scholarship fund receives a gift of $ 145000. The money is invested in stocks, bonds, and CDs. CDs pay 5.75 % interest, bonds pay 5.1 % interest, and stocks pay 8 % interest. Maricopa Success invests $ 35000 more in bonds than in CDs. If the annual income from the investments is $ 8782.5 , how much was invested in each account?

Maricopa Success invested $ ____  in stocks.

Maricopa Success invested $ ____  in bonds.

Maricopa Success invested $ ____  in CDs.

Answer 1

B=C+35000 Bonds $35000> CDs

S= 145000-B-C Stocks= total minus Bonds & CDs

S+B+C = 145000 Total is $145,000

8% Stocks + 5.1% Bonds + 5.75 CDs = $8,782.50

.08S + .051B + .0575C = 8782.5

.0575S+.0575B +.0575C =.0575(145000)

subtract last 2 equations

.0225S - .0065B = 8782.5- 8337.5= 445

.0225(145000-B-C) - .0065B = 445

(-.0225-.0065)B - .0225C = 445 - .0225(145000)

-.029B - .0225C =445- 3262.5 = -2817.5

.029B +.0225C = 2817.5

.029(35000+C) + .0225C = 2817.5

(.029+.0225)C = 2817.5-.029(35000)

.0515C= 2817.5- 1015= 1802.5

C = 1802.5/.0515 = $35,000 invested in CDs

B= C+3500 = $70,000 invested in Bonds

S =145000-35000-70000= $40,000 invested in Stocks

.08(40) +.051(70) + .0575(35)

3.2+3.57 2.0125 = 8.7825