Homework Help: Math

Posted by Matt on Wednesday, September 10, 2008 at 11:12pm.

Betsy, a recent retiree, requires $6000 per year in extra income. She has $47,000 to invest and can invest in B-rated bonds paying 15% per year or in a Certificate of Deposit (CD) paying 6% per year. How much money should be invested in each to realize exactly $6000 in interest per year?

Math - drwls, Wednesday, September 10, 2008 at 11:14pm
Solve this pair of equations, using algebra:

B + C = 47,000

0.15 B + 0.06 C = 6000

B is the Bond investment and C is the CD investment.

Answer this Question

Related Questions

Math(Please help) - Betsy, a recent retiree, requires $6,000 per year in extra ...
math(Please help) - Betsy, a recent retiree, requires $6,000 per year in extra ...
COLLEGE ALEGBRA - Sue, a recent retiree, requires $6,000 per year in extra ...
Math - Betsy, a recent retiree, requires $6,000 per year in extra income. She ...
Math Word Problem - 2) After 2 years, Betsy finds she now will require $7,000 ...
intermediate math - maria has recently retired and requires an extra $7200 per ...
Algebra 2 - A man is planning to invest up to $22,000in bank X or bank Y or both...
math - linear programming - A woman wishes to invest $12,000 in three of bonds: ...
Pre-Calculus - . Margaret is planning to invest up to $22,000 in ...
math - A prfessor wants to supplement her pension with investment interst. If ...

For Further Reading

First Name:
School Subject:
Answer: