A retired woman has $20,000 to invest but needs to make $3,000 a year from the interest to meet certain living expenses. One bond investment pays 7% annual interest. The rest of it she wants to put in a CD that pays 3%. How much was invested in each account?
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A retired woman has $40,000 to invest but needs to make $3,000 a year from the interest to meet certain living expenses. One bond investment pays 15% annual interest. The rest of it she wants to put in a CD that pays 7%. Set up and solve the equation for how much the woman should invest in each option to sustain exactly a $3,000 annual return. bond $ CD $
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A retired woman has $80,000 to invest but needs to make $6,000 a year from the interest to meet certain living expenses. One bond investment pays 15% annual interest. The rest of it she wants to put in a CD that pays 7%. Set up and solve the equation for how much the woman should invest in each option to sustain exactly a $6,000 annual return.
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