Question

Maricopa's Success scholarship fund receives a gift of $155,000. The money is invested in stocks, bonds, and CDs. CDs pay 3.75 % interest, bonds pay 4 % interest, and stocks pay 7.9 % interest. Maricopa Success invests $65,000 more in bonds than in CDs. If the annual income from the investments is $8,100 , how much was invested in each account?

Answer 1

$ 50,000 stocks, $ 85,000 bonds and $ 20,000 CDs.

Explanation:

We have a system of 3x3 equations, which would be as follows:

Be it "s" stocks, "b" bonds and "c" CDs, we have to:

s + b + C = 155000

0.079 * s + 0.04 * b + 0.0375 * C = 8100

0 * s + b - C = 65000

When introducing this, in a solved of any matrices on the internet it gives us the following results:

C = 20000

b = 85000

s = 50000

In other words, it invested $ 50,000 stocks, $ 85,000 bonds and $ 20,000 CDs.