FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Maricopa's Success scholarship fund receives a gift of $ 140000. The money is invested in stocks, bonds, and CDs. CDs pay 2 % interest, bonds

image text in transcribed
Maricopa's Success scholarship fund receives a gift of $ 140000. The money is invested in stocks, bonds, and CDs. CDs pay 2 % interest, bonds pay 3.9 % interest, and stocks pay 8.9 % interest. Maricopa Success invests $ 65000 more in bonds than in CDs. If the annual income from the investments is $ 8020 , how much was invested in each account? Maricopa Success invested $ in stocks. Maricopa Success invested $ in bonds. Maricopa Success invested $ in -D

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Differential Geometry And Continuum Mechanics

Differential Geometry And Continuum Mechanics

Authors: Gui Qiang G Chen, Michael Grinfeld, R J Knops

1st Edition

331918573X, 9783319185736

More Books

Students also viewed these Mathematics questions

Question

★★★★★
How would you assess the level of ethical interpersonal communication in an organization at which you are or have been employed? Give concrete examples that serve as the basis of your assessment.

Answered: 1 week ago

Question

★★★★★
Seatbelts. An insurance company claims that 5% of drivers do not fasten their seatbelts while driving a car. It surveys 150 drivers who pass by the main street in front of the company building. a)...

Answered: 1 week ago

Question

★★★★★
How has your background and education prepared you for the job you are seeking with us?

Answered: 1 week ago

Question

★★★★★
DeQuan Matthews started a sports travel business to help college students travel to out of town sporting events. He engaged in the following activities to establish Sports to Go. 1. Deposited $10,000...

Answered: 1 week ago

Question

★★★★★
An investor purchases a $25 million face amount of a corporate bond with remaining maturity of 30 years for 99.5 (no accured interest). The coupon is 3%. The investor can invest cash at 1.0% annum,...

Answered: 1 week ago

Question

★★★★★
There is more than one correct answer 7 . There are some descriptions related to business mode. Please choose the "correct" answer ( s ) from the answers provided below. A . For an established...

Answered: 1 week ago

Question

★★★★★
21. Data: S0 = 100; X = 110; 1 + r = 1.1. The two possibilities for ST are 150 and 80. Calculate the value of a call option on the stock with an exercise price of 110. (Do not use continuous...

Answered: 1 week ago

Question

★★★★★
Car expenses using logbook and expense data Rory derives business income from a retail cosmetics store. On 1 October 2023, Rory bought a Mercedes for $38,340. Its effective life is eight years. Rory...

Answered: 1 week ago

Question

★★★★★
An analyst for Bloom Ltd, gathered the following information with regards to futures contract: Current spot-market price of R60 Risk-free interest rate of 8.87% per annum The six-month future...

Answered: 1 week ago

Question

★★★★★
Case 2: Maria Sosa is selling a 2015 Nissan Verson SV to Juan Rodriguez for RD$400,000.00 pesos. Juan Rodriguez tells her that he will pay Mrs. Sosa in cash. Analyze the case and then answer: Can Mr....

Answered: 1 week ago

Question

★★★★★
It is estimated that 28% of all adults in the United States invest in stocks and that 83% of U.S. adults have investments in fixed income instruments (savings accounts, bonds, etc.). It is also...

Answered: 1 week ago

Question

★★★★★
A researcher studying the organism C. elegans (a type of roundworm) observes a group of 10 worms starting from birth and records the lifespan of each worm, measured in days. The data values are shown...

Answered: 1 week ago

Question

★★★★★
4. What is meant by the following statement, What we take for granted in a social situation may actually prove to be mechanisms that govern how we evaluate and act in the situation?

Answered: 1 week ago

Question

★★★★★
6. What is meant by the following statement, the methods used to uncover (construct) reality guide our thinking and actions in relation to this reality?

Answered: 1 week ago

Question

★★★★★
1. Discuss the following statements: (a) A person who describes something, ignores something else. (b) Our description of something will always be different from the thing we describe. (c) Our social...

Answered: 1 week ago

Previous Question Next Question