Maricopa's Success scholarship fund receives a gift of $ 135000. The money is invested in stocks, bonds, and CDs. Stocks pay 11.5 % interest, bonds pay 4.9 % interest, and CDs pay 6 % interest. Maricopa Success invests $ 20000 more in bonds than in CDs. If the annual income from the investments is $ 11785 , how much was invested in each account?
Maricopa's Success scholarship fund receives a gift of $ 135000. The money is invested in stocks, bonds, and CDs. Stocks pay 11.5 % interest, bonds pay 4.9 % interest, and CDs pay 6 % interest. Maricopa Success invests $ 20000 more in bonds than in CDs. If the annual income from the investments is $ 11785 , how much was invested in each account?
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.3: Solve Mixture Applications
Problem 3.65TI: Remy has $14,000 to invest in two mutual funds. One fund pays interest at 4% per year and the other...
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Maricopa's Success scholarship fund receives a gift of $ 135000. The money is invested in stocks, bonds, and CDs. Stocks pay 11.5 % interest, bonds pay 4.9 % interest, and CDs pay 6 % interest. Maricopa Success invests $ 20000 more in bonds than in CDs. If the annual income from the investments is $ 11785 , how much was invested in each account?
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