SOLUTION: Nancy wants to invest her $50 000.00. She invests part of it in corporate bonds paying 15% interest per year and the other part in a bank certificate that pays 7% interest per ye
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Question 471040: Nancy wants to invest her $50 000.00. She invests part of it in corporate bonds paying 15% interest per year and the other part in a bank certificate that pays 7% interest per year. How much should she invest at each rate to yield $6,000 interest per year? Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! .07m+.15(50000-m)=6000
7m+15(50000-m)=600000
7m+750000-15m=600000
8m=150000
m=18750
50000-m=31250
Nancy needs to invest $18,750 at 7% and $31250 at 15%..
