document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1114399>Question 1114399</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Dustin just retired, and has $530,000 to invest. A very safe Certificate of Deposit (CD) account pays 1.5%, while a riskier bond fund pays 5% in interest. Dustin figures he needs $24,000 a year in interest to live on. How much should he invest in each account to make enough interest while minimizing his risk?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #729341 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=729341\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> x with CD and 530000-x for the bond fund<BR>\n" );
document.write( "interest earned is .015x+0.05(530000-x)=24000<BR>\n" );
document.write( "0.015x+26500-0.05x=24000<BR>\n" );
document.write( "-0.035x+26500=24000<BR>\n" );
document.write( "-0.035x=-2500<BR>\n" );
document.write( "x=$71428.57<BR>\n" );
document.write( "x=74128.57 for CD @1.5%=$1071.43 ANSWER<BR>\n" );
document.write( "530000-x=$458571.43 for bond fund @5%=$22928.57 ANSWER<BR>\n" );
document.write( "That sum is $24,000 </SPAN>\n" );
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