00:01
A retired woman has $70 ,000 to invest.
00:03
She's going to put one in bond investment that pays 15 % annual interest.
00:07
We have a bond that's at 15%.
00:10
And then she has a cd, which pays 7%.
00:14
She wants to make sure that she ends up with $9 ,000 to sustain an annual return.
00:21
So how much does she invest at each one? we don't know.
00:25
So i'm going to say x is going to be the amount at 15%.
00:29
So the remainder of that, 70 ,000 minus x will be the amount in the cd.
00:35
How do we figure interest? we multiply the principle times the rate.
00:39
And since we're looking at an annual time, it's going to be 1.
00:42
So it'll be 0 .15x.
00:44
This is going to be 0 .07, 70 ,000 minus x.
00:49
We're going to add the interest from both of those to get 9 ,000...