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September 2, 2015

Homework Help: Math(Please help)

Posted by Hannah on Sunday, September 19, 2010 at 9:39pm.

Betsy, a recent retiree, requires $6,000 per year in extra income. She has $70,000 to invest and can invest in B-rated bonds paying 17% per year or in a CD paying 7% per year. How much money should be invested in each to realize exactly $6,000 in interest per year?

I do not know what to do for this.

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