Betsy, a recent retiree, requires $6000 per year in extra income. She has $50,000 to invest and
Question:
Betsy, a recent retiree, requires $6000 per year in extra income. She has $50,000 to invest and can invest in B-rated bonds paying 15% per year or in a certificate of deposit (CD) paying 7% per year. How much money should Betsy invest in each to realize exactly $6000 in interest per year?
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Let x represent the amount of money invested in bonds Then 50000x represe...View the full answer
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