Question
Country Day's scholarship fund receives a gift of $ 135000. The money is invested in stocks, bonds, and CDs. CDs pay 5.5 % interest, bonds
Country Day's scholarship fund receives a gift of $ 135000. The money is invested in stocks, bonds, and CDs. CDs pay 5.5 % interest, bonds pay 3.4 % interest, and stocks pay 8.9 % interest. Country day invests $ 15000 more in bonds than in CDs. If the annual income from the investments is $ 8965 , how much was invested in each vehicle?
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Principles Of Managerial Finance
Authors: Chad Zutter, Scott Smart
16th Global Edition
1292400641, 978-1292400648
