Maricopa's Success scholarship fund receives a gift of $ 190000. The money is invested in stocks, bonds, and CDs. CDs pay 5.75 % interest, bonds pay 3.8 % interest, and stocks pay 7.2 % interest. Maricopa Success invests $ 25000 more in bonds than in CDs. If the annual income from the investments is $ 10405 , how much was invested in each account?
Maricopa's Success scholarship fund receives a gift of $ 190000. The money is invested in stocks, bonds, and CDs. CDs pay 5.75 % interest, bonds pay 3.8 % interest, and stocks pay 7.2 % interest. Maricopa Success invests $ 25000 more in bonds than in CDs. If the annual income from the investments is $ 10405 , 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 $ 190000. The money is invested in stocks, bonds, and CDs. CDs pay 5.75 % interest, bonds pay 3.8 % interest, and stocks pay 7.2 % interest. Maricopa Success invests $ 25000 more in bonds than in CDs. If the annual income from the investments is $ 10405 , how much was invested in each account?
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