Country Day's scholarship fund receives a gift of $ 145000. The money is invested in stocks, bonds, and CDs. CDs pay 2.75 % interest, bonds pay 3 % interest, and stocks pay 8.5 % interest. Country day invests $ 50000 more in bonds than in CDs. If the annual income from the investments is $ 5637.5 , how much was invested in each vehicle?
Country Day's scholarship fund receives a gift of $ 145000. The money is invested in stocks, bonds, and CDs. CDs pay 2.75 % interest, bonds pay 3 % interest, and stocks pay 8.5 % interest. Country day invests $ 50000 more in bonds than in CDs. If the annual income from the investments is $ 5637.5 , how much was invested in each vehicle?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Country Day's scholarship fund receives a gift of $ 145000. The money is invested in stocks, bonds, and CDs. CDs pay 2.75 % interest, bonds pay 3 % interest, and stocks pay 8.5 % interest. Country day invests $ 50000 more in bonds than in CDs. If the annual income from the investments is $ 5637.5 , how much was invested in each vehicle?
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