Answer:
400
Step-by-step explanation:
She invested $11,250 in the stock, $3,750 in the CD and $12,000 in the bond fund.
<h3><u>Distributions</u></h3>
Given that Sylvia invested a total of $27,000, and she invested part of the money in a certificate of deposit (CD) that earns 3% simple interest per year, she invested in a stock that returns the equivalent of 7% simple interest, and she invested in a bond fund that returns 2%, and she invested three times as much in the stock as she did in the CD, and earned a total of $1140 at the end of 1 yr, to determine how much principal did she put in each investment, the following calculation must be made:
- 9000 x 0.07 + 3000 x 0.03 + 15000 x 0.02 = 630 + 90 + 300 = 1020
- 9900 x 0.07 + 3300 x 0.03 + 13800 x 0.02 = 693 + 99 + 276 = 1068
- 12,000 x 0.07 + 4,000 x 0.03 + 11,000 x 0.02 = 840 + 120 + 220 = 1,180
- 11400 x 0.07 + 3800 x 0.03 + 11800 x 0.02 = 798 + 114 + 236 = 1148
- 10800 x 0.07 + 3600 x 0.03 + 12600 x 0.02 = 756 + 108 + 252 = 1116
- 11160 x 0.07 + 3720 x 0.03 + 12120 x 0.02 = 781.2 + 111.6 + 242.4 = 1135.2
- 11190 x 0.07 + 3730 x 0.03 + 12080 x 0.02 = 783.3 + 111.9 + 241.6 = 1136.8
- 11250 x 0.07 + 3750 x 0.03 + 12000 x 0.02 = 787.5 + 112.5 + 240 = 1140
Therefore, she invested $11,250 in the stock, $3,750 in the CD and $12,000 in the bond fund.
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