SOLUTION: If Joe invests $21,000 dollars in cd's and $10,500 in bonds. the cd's intrest rate is 1% larger than the band rate, and the cd generates $840 more than the bond what are the two in
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Question 314340: If Joe invests $21,000 dollars in cd's and $10,500 in bonds. the cd's intrest rate is 1% larger than the band rate, and the cd generates $840 more than the bond what are the two intrst rates??????
Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!
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Substitute,
The CD rate is 7% and the bond rate is 6%.
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