Question: A $ 1 2 8 , 0 0 0 trust is to be invested in bonds paying 6 % , CDs paying 5 % ,

A $128,000 trust is to be invested in bonds paying 6%, CDs paying 5%, and mortgages paying 7%. The sum of the bond and CD investment must equal the mortgage investment. To earn an $7900 annual income from the investments, how much should the bank invest in bonds?
this is a math question not finance do it by formulas you have provided the wrong ans

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!