SOLUTION: Steve, a recent tetiree, requires $5000 per year in extra income. He has $70,000 to invest and can invest in A-rated bond paying 8% per year or in a certificate of deposit(CD) payi

SOLUTION: Steve, a recent tetiree, requires $5000 per year in extra income. He has $70,000 to invest and can invest in A-rated bond paying 8% per year or in a certificate of deposit(CD) payi

Algebra.Com

Question 363547: Steve, a recent tetiree, requires $5000 per year in extra income. He has $70,000 to invest and can invest in A-rated bond paying 8% per year or in a certificate of deposit(CD) paying 5% per year. How much money should be invested in each to realize exactly $5000 in interest per year?
Answer by 466158(2) (Show Source): You can put this solution on YOUR website!
8%
RELATED QUESTIONS
Steve, a recent retiree, requires $5000 per year in extra income. He has $70,000 to... (answered by ikleyn)

Betsy, a recent retiree, requires $5000 per year in extra income. She has $50000 to... (answered by Boreal)

Betsy, a recent retiree,requires $6000 per year in extra income.She has $50,000 to invest (answered by ikleyn,greenestamps)

Oboe a recent retiree, requires Ghc 6000 per year in extra income. She has Ghc 50000 to... (answered by ikleyn,greenestamps)

Betsy, a recent retiree, requires $6,000 per year in extra income. She has... (answered by ikleyn)

Betsy, a recent retiree, requires $6,000 per year in extra income. She has... (answered by Theo,greenestamps,math_tutor2020)

Betsy, a recent retiree, requires $6,000 per year in extra income. She has $60,000 to... (answered by ankor@dixie-net.com)

Betsy a recent retiree, requires $5,000 per year in extra income. She has $70,000 to... (answered by josmiceli)

Betsy, a recent retiree, requires $6000 per year in extra income. She has $50000 to... (answered by mananth)