Question

Maricopa's Success scholarship fund receives a gift of $ 75000. The money is invested in stocks,

bonds, and CDs. CDs pay 2.25 % interest, bonds pay 4.4 % interest, and stocks pay 6.5 % interest.
Maricopa Success invests $ 30000 more in bonds than in CDs. If the annual income from the
investments is $ 3610, how much was invested in each account?
Maricopa Success invested $___in stocks.
in bonds.
Maricopa Success invested $___ in bonds.
Maricopa Success invested $____in CDs.

Answer 1

Maricopa's Success invests $25,000 in stocks, $40,000 in bonds, and $10,000 in CDs.

Explanation:

a = Stocks

b = Bonds

c = CDs

a + b + c = 75000

b = 30000 + c

a = 75000 - c - 30000 - c = 45000 - 2c

0.065(45000 - 2c) + 0.044(30000 + c) + 0.0225c = 3610

2925 - 0.13c + 1320 + 0.044c + 0.0225c = 3610

0.0635c = 635

c = 10000

So b = 40000 and a = 25000