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
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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):
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