Edmonds Community College's (EDCC) scholarship fund received a gift of $ 115,000. The money is invested in stocks, bonds, and CDs. CDs pay 2.5% interest, bonds pay 4.8% interest, and stocks pay 7.3% simple interest. EDCC invests $ 40,000 more in bonds than in CDs. If the annual income from the investments is $5,935, how much was invested in each vehicle? solve by the method of your choice either using reduced row echelon form or the matrix equation EDCC invested $ $ in stocks in bonds in CDs
Edmonds Community College's (EDCC) scholarship fund received a gift of $ 115,000. The money is invested in stocks, bonds, and CDs. CDs pay 2.5% interest, bonds pay 4.8% interest, and stocks pay 7.3% simple interest. EDCC invests $ 40,000 more in bonds than in CDs. If the annual income from the investments is $5,935, how much was invested in each vehicle? solve by the method of your choice either using reduced row echelon form or the matrix equation EDCC invested $ $ in stocks in bonds in CDs
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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Transcribed Image Text:Edmonds Community College's (EDCC) scholarship fund received a gift of $ 115,000.
The money is invested in stocks, bonds, and CDs.
CDs pay 2.5% interest, bonds pay 4.8% interest, and stocks pay 7.3% simple interest.
EDCC invests $ 40,000 more in bonds than in CDs.
If the annual income from the investments is $5,935, how much was invested in each vehicle?
solve by the method of your choice either using reduced row echelon form or the matrix equation
EDCC invested
$
$
$
in stocks
in bonds
in CDs
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