document.write( "Question 403805: Betsy, a recent retiree, requires $6,000 per year in extra income. She has $60,000 to invest and can invest in B-rated bonds paying 15% per year or in a certificate of deposit (CD) paying 5% per year. How much money should be invested in each to realize exactly $6,000 in interest per year? \n" ); document.write( "
Algebra.Com's Answer #285507 by ankor@dixie-net.com(22740)![]() ![]() You can put this solution on YOUR website! requires $6,000 per year in extra income. \n" ); document.write( "She has $60,000 to invest and can invest in B-rated bonds paying 15% per year \n" ); document.write( " or in a certificate of deposit (CD) paying 5% per year. \n" ); document.write( " How much money should be invested in each to realize exactly $6,000 in interest per year? \n" ); document.write( ": \n" ); document.write( "Let b = amt to be invested in bonds \n" ); document.write( "Let c = amt in CD's \n" ); document.write( ": \n" ); document.write( "b + c = 60000 \n" ); document.write( "c = (60000-b) \n" ); document.write( ": \n" ); document.write( ".15b + .05c = 6000 \n" ); document.write( "replace c with (60000-b) \n" ); document.write( ".15b + .05(60000-b) = 6000 \n" ); document.write( ".15b + 3000 - .05b = 6000 \n" ); document.write( ".15b - .05b = 6000 - 3000 \n" ); document.write( ".10b = 3000 \n" ); document.write( "b = \n" ); document.write( "b = $30,000 invested in bonds \n" ); document.write( "and \n" ); document.write( "c = 60000 - 30000 \n" ); document.write( "c = $30,000 invested in CD's \n" ); document.write( ": \n" ); document.write( "; \n" ); document.write( "See if that checks out \n" ); document.write( ".15(30000) = 4500 \n" ); document.write( ".05(30000) = 1500 \n" ); document.write( "------------------ \n" ); document.write( "total amt: 6000 \n" ); document.write( " |