How much was invested in each vehicle?

Question

Country Day's scholarship fund receives a gift of $ 160000. The money is invested in stocks, bonds, and CDs. CDs pay 2.25 % interest, bonds pay 4.4 % interest, and stocks pay 9.3 % interest. Country day invests $ 60000 more in bonds than in CDs. If the annual income from the investments is $ 9550 , how much was invested in each vehicle?

Answer 1

Let x = amount in CD.

Then x + 60000 = amount in bonds and amount in stocks = 160000 - x - (x + 60000) = 100000 - 2x

So, 0,0225x + 0.044(x + 60000) + 0,093(100000 - 2x) = 9550

Solve for x.