Country Day's scholarship fund receives a gift of $ 185000. The money is invested in stocks, bonds, and CDs. CDs pay 4.75 % interest, bonds pay 3.3 % interest, and stocks pay 7.5 % interest. Country day invests $ 20000 more in bonds than in CDs. If the annual income from the investments is $ 9560 , how much was invested in each vehicle?

$65,000 was invested in stocks, $ 50,000 in CDs and $ 70,000 in bonds.

Step-by-step explanation:

Since Country Day's scholarship fund receives a gift of $ 185000, and the money is invested in stocks, bonds, and CDs, and CDs pay 4.75% interest, bonds pay 3.3% interest, and stocks pay 7.5% interest, and Country day invests $ 20000 more in bonds than in CDs, if the annual income from the investments is $ 9560, to determine how much was invested in each vehicle, the following calculation must be performed:

55000 x 0.075 + 55000 x 0.0475 + 75000 x 0.033 = 9,212.5

57000 x 0.075 + 54000 x 0.0475 + 74000 x 0.033 = 9,282

65000 x 0.075 + 50000 x 0.0475 + 70000 x 0.033 = 9,560

Therefore, $ 65,000 was invested in stocks, $ 50,000 in CDs and $ 70,000 in bonds.

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