A College scholarship fund received a gift of $ 104,000. The money is invested in CDs, bonds, and Stocks. CDs pay 5.5% interest, bonds pay 6% interest, and stocks pay 8.8% simple interest. The college invests $ 46,000 more in bonds than in CDs. If the annual income from the investments is $7,010 , how much was invested in each vehicle? $ in CDs $ in bonds $ in Stocks
A College scholarship fund received a gift of $ 104,000. The money is invested in CDs, bonds, and Stocks. CDs pay 5.5% interest, bonds pay 6% interest, and stocks pay 8.8% simple interest. The college invests $ 46,000 more in bonds than in CDs. If the annual income from the investments is $7,010 , how much was invested in each vehicle? $ in CDs $ in bonds $ in Stocks
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
A College scholarship fund received a gift of $ 104,000.
The money is invested in CDs, bonds, and Stocks.
CDs pay 5.5% interest, bonds pay 6% interest, and stocks pay 8.8% simple interest.
The college invests $ 46,000 more in bonds than in CDs. If the annual income from the investments is $7,010 , how much was invested in each vehicle?
$ in CDs
$ in bonds
$ in Stocks
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