Math Word Problem
posted by Amy~ .
2) After 2 years, Betsy finds she now will require $7,000 per year. The remaining info is the same. How should the money be reinvested?
Same info: 1) Betsy requires $6000 per year in extra income. She has $50,000 to invest and can invest in bonds paying 15% per year or in CD paying 7% per year.
Should I use the same equation that I used for 1) and just change the 6000 interest to 7000? and re find the money that should be invested in CD and bonds?
The question is poorly worded. But that is the way I got the answer.