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Ordered Triples Problem (Posted on 2024-07-11)

A company receives a gift of $ 155,000. The money is invested in stocks, bonds, and CDs.

CDs pay 4.5 % interest, bonds pay 2.8 % interest, and stocks pay 8.4 % interest.

The company invests $ 40,000 more in bonds than in CDs.

If the annual income from the investments is $ 7,930, how much was invested in each account?

Submitted by K Sengupta

Rating: 5.0000 (1 votes)

Solution: (Hide)

Let the investments in cds, bonds and stocks be c, c+40000, and s.
Then, we must have:
2c+s = 155000-40000=115000
c*4.5/100 + (c+40000)*2.8/100+ 8.4*s/100=7930
Solving the two equations, we have:
c=30000, b=30000+40000=70000
s=55000
Therefore, the amounts invested was:
CDs: $30,000
Bonds: $70,000
Stocks:$55,000

Comments: ( You must be logged in to post comments.)

	Subject	Author	Date
	Possible Solution	broll	2024-07-12 04:39:20

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