Maricopa's Success scholarship fund receives a gift of $ 165000. The money is invested in stocks, bonds, and CDs. CDs pay 2 % interest, bonds pay 2.6 % interest, and stocks pay 6.1 % interest. Maricopa Success invests $ 30000 more in bonds than in CDs. If the annual income from the investments is $ 6355 , how much was invested in each account?

Maricopa's Success scholarship fund receives a gift of $ 165000. The money is invested in stocks, bonds, and CDs. CDs pay 2 % interest, bonds pay 2.6 % interest, and stocks pay 6.1 % interest. Maricopa Success invests $ 30000 more in bonds than in CDs. If the annual income from the investments is $ 6355 , how much was invested in each account?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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