A college scholarship fund received a gift of $ 156,469.08. The money is invested in CDs, bonds, and Stocks. CDs pay 4.25% interest, bonds pay 5.5% interest, and stocks pay 6.8% simple interest. ACM invests $ 51,181.71 more in bonds than in CDs. If the annual income from the investments is $9,331.00 , how much was invested in each

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
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A college scholarship fund received a gift of $ 156,469.08.
The money is invested in CDs, bonds, and Stocks.
CDs pay 4.25% interest, bonds pay 5.5% interest, and stocks pay 6.8% simple interest.
ACM invests $ 51,181.71 more in bonds than in CDs. If the annual income from the investments is $9,331.00 , how much was invested in each vehicle?

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