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April 26, 2015

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?

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