SOLUTION: A P550000 retirement pension is to be invested into two accounts; a money market fund that pays 8.5% and a certificate of deposit that pays 10.5%. How much should be invested at ea

Question 1011709: A P550000 retirement pension is to be invested into two accounts; a money market fund that pays 8.5% and a certificate of deposit that pays 10.5%. How much should be invested at each rate in order to provide a yearly interest income of P53750?
Answer by josgarithmetic(39620) (Show Source): You can put this solution on YOUR website!
x at 8.5%, yat 10.5%

RELATED QUESTIONS
A $50,000 retirement income is to be invested into two accounts: a money market fund that (answered by mananth)

Eva wins $250,000 (after taxes) in the lottery and decides to invest half of it in a... (answered by Boreal)

Please help. Michael wins $600,000 (after taxes) in the lottery and decides to invest... (answered by Boreal,rfer)

A total of $500,000 was invested into two accounts. One fund pays 5.2% and the second one (answered by Shin123)

You recently graduated and your job search brought you to Blues Airline. Since you felt... (answered by ikleyn)

Evelyn starts a retirement fund 10 years before retirement. She pays $100 per month into... (answered by ikleyn)

Sam saved his money until he had $10 000 to invest. He invested x dollars into a... (answered by Theo,MathTherapy,greenestamps)

Lakeitha earned $12,000 more in her accounting job this year. She invested the money and (answered by checkley77)

You have $500000 in registered retirement savings plan at the time you retire. You have... (answered by mananth)