February 23, 2017

Homework Help: Math

Posted by Lisa on Wednesday, October 6, 2010 at 4:57pm.

Betsy, a recent retiree, requires $6,000 per year in extra income. She has $60,000 to invest and can invest in B-rated bonds paying 13% per year or in a certificate of deposit (CD) paying 3% per year. How much money should be invested in each to realize exactly $6,000 in interest per year?

The amount of money invested at 13%?

The amount of money invested at 3%?

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