
Sarah D.
asked 05/10/23What am I missing
Maricopa's Success scholarship fund receives a gift of $ 120000. The money is invested in stocks, bonds, and CDs. CDs pay 5.75 % interest, bonds pay 3.5 % interest, and stocks pay 11.7 % interest. Maricopa Success invests $ 70000 more in bonds than in CDs. If the annual income from the investments is $ 6177.5 , how much was invested in each account?
1 Expert Answer

Mark M. answered 05/10/23
Mathematics Teacher - NCLB Highly Qualified
c represents the amount in CD's
c + 70000 represents the amount in bonds
120000 - c - (c + 70000) repressents the amont in stocks
0.0575c + 0.035(c + 70000) + 0.117(120000 - c - (c + 70000)) = 6177.5
Can you solve for c and answer?
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Mark M.
How would anyone deteremine what you are missing?05/10/23