November 2023
Problem of the Month
Company Gift
Submitted by K. Sengupta
A company receives a gift of $ 155,000. The money is invested in stocks, bonds, and CDs.
CDs pay 4.5 % interest, bonds pay 2.8 % interest, and stocks pay 8.4 % interest.
The company invests $ 40,000 more in bonds than in CDs.
If the annual income from the investments is $ 7,930, how much was invested in each account?