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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A firm borrows $255,000 from a bank and agrees to pay back the bank over 4 years at 12%. What are the total finance charages? Group of answer choices $25,384.22 $67, 326.15 $22, 924.66 $13, 872.19 $650.00 $ 20,879.60 $183, 487.11 $6.87 $1,892, 660.66 $1,988, 374.34 $1,765, 147.96
A-1
I ....-I MY NOTES ASK YOUR TEACHER A state lottery commission pays the winner of the Million Dollar lottery 40 installments of $25,000/year. The commission makes the first payment of $25,000 immediately and the other n = 39 payments at the end of each of the next 39 years. Assume that the balance on deposit with the bank earns interest at the rate of 4%/year compounded yearly. Determine the present value (in dollars) of the 39 future payments. (Round your answer to the nearest cent.) 24 Determine how much money (in dollars) the commission should have in the bank initially to guarantee the payments. (Round your answer to the nearest cent.) 24 MY NOTES ASK YOUR TEACHER The Martinezes are planning to refinance their home. The outstanding balance on their original loan is $125,000. Their finance company has offered them two options. (Assume there are no additional finance charges. Round your answers to the nearest cent.) Option A: A fixed-rate mortgage at an interest rate of 3.5%/year…
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Maricopa's Success scholarship fund receives a gift of $ 115000. The money is invested in stocks, bonds, and CDs. CDs pay 5.75 % interest, bonds pay 5.7 % interest, and stocks pay 8.9 % interest. Maricopa Success invests $ 35000 more in bonds than in CDs. If the annual income from the investments is $ 7845 , how much was invested in each account? Maricopa Success invested $ in stocks. Maricopa Success invested $ in bonds. Maricopa Success invested $ in CDs. Question Help: D Video Submit Question

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