ntry Day's scholarship fund receives a gift of $ 165000. The money is invested in stocks, bonds, and CDs. CDs pay 5 % interest, bonds pay 2.5 % interest, and stocks pay 8 % interest. Country day invests $ 15000 more in bonds than in C

ntry Day's scholarship fund receives a gift of $ 165000. The money is invested in stocks, bonds, and CDs. CDs pay 5 % interest, bonds pay 2.5 % interest, and stocks pay 8 % interest. Country day invests $ 15000 more in bonds than in C

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 22E

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Question

H1. Country Day's scholarship fund receives a gift of $ 165000. The money is invested in stocks, bonds, and CDs. CDs pay 5 % interest, bonds pay 2.5 % interest, and stocks pay 8 % interest. Country day invests $ 15000 more in bonds than in CDs. If the annual income from the investments is $ 8550 , how much was invested in each vehicle?

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