Question

PLS HELP!

Maricopa's Success scholarship fund receives a gift of $ 95000. The money is invested in stocks, bonds, and CDs. CDs pay 4.75 % interest, bonds pay 4.2 % interest, and stocks pay 11.2 % interest. Maricopa Success invests $ 35000 more in bonds than in CDs. If the annual income from the investments is $ 6845 , how much was invested in each account?

Answer 1

$15000 was invested in CDs, $50000 was invested in bonds, and $30000 was invested in stocks.

Explanation:

Let x be the amount invested in CDs. Then, the amount invested in bonds is x + 35000. The remaining amount invested in stocks is 95000 - (x + x + 35000) = 25000 - x.

The annual income from CDs is 0.0475x dollars. The annual income from bonds is 0.042(x + 35000) dollars. The annual income from stocks is 0.112(25000 - x) dollars.

The total annual income from all three investments is $6845: 0.0475x + 0.042(x + 35000) + 0.112(25000 - x) = 6845

Solving for x gives: x = $15000

Therefore, $15000 was invested in CDs, $50000 was invested in bonds, and $30000 was invested in stocks.