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

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments

Section: Chapter Questions

Problem 8RE

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