Realeigh G.
asked • 12/04/22system of linear
Maricopa's Success scholarship fund receives a gift of $ 175000. The money is invested in stocks, bonds, and CDs. CDs pay 2.25 % interest, bonds pay 3.8 % interest, and stocks pay 9.3 % interest. Maricopa Success invests $ 40000 more in bonds than in CDs. If the annual income from the investments is $ 10310, how much was invested in each account?
Maricopa Success invested $ in stocks.
Maricopa Success invested $ in bonds.
Maricopa Success invested $ in CDs.
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1 Expert Answer
Raymond B. answered • 08/05/23
Tutor
5
(2)
Math, microeconomics or criminal justice
b = 40000 + c
b + s + c = 175000
.038b +.093s + .0225c = 10310
3 equations, 3 unknowns
solve by substitution, elimination or matrix algebra
.
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Doug C.
Where have you gotten to so far in your attempt to solve this problem? Have you been able to define three variables and set up three equations? The first equation might look like x + y + z = 175000. Do you just need help solving the system?12/04/22