Faye has recently retired and requires an extra $2700 per year in income. She has $60,000 to
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Faye has recently retired and requires an extra $2700 per year in income. She has $60,000 to invest and can invest in either low risk AA-rated bonds that pay 3% per annum or high risk B-rated junk bonds paying 5% annually. How much should be placed in each investment for Faye to achieve her goal exactly?
Faye should invest__$ in the low risk AA-rated bonds and ___$ in the high risk B-rated junk bonds to achieve her goal exactly.
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