Maricopa's Success scholarship fund receives a gift of $ 90000. The money is invested in stocks, bonds, and CDs. CDs pay 5.5 % interest, bonds pay 3.6 % interest, and stocks pay 10.8 % interest. Maricopa Success invests $ 50000 more in bonds than in CDs. If the annual income from the investments is $ 4870 , how much was invested in each account?

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Maricopa's Success scholarship fund receives a gift of $ 90000. The money is invested in stocks, bonds, and
CDs. CDs pay 5.5 % interest, bonds pay 3.6 % interest, and stocks pay 10.8 % interest. Maricopa Success
invests $ 50000 more in bonds than in CDs. If the annual income from the investments is $ 4870 , how much
was invested in each account?
Maricopa Success invested$ 2426.78
in stocks.
Maricopa Success investedS 52426.78
in bonds.
Maricopa Success investedS 35146.44
in CDs.
Transcribed Image Text:Maricopa's Success scholarship fund receives a gift of $ 90000. The money is invested in stocks, bonds, and CDs. CDs pay 5.5 % interest, bonds pay 3.6 % interest, and stocks pay 10.8 % interest. Maricopa Success invests $ 50000 more in bonds than in CDs. If the annual income from the investments is $ 4870 , how much was invested in each account? Maricopa Success invested$ 2426.78 in stocks. Maricopa Success investedS 52426.78 in bonds. Maricopa Success investedS 35146.44 in CDs.
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