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neonofarm [45]
4 years ago
9

A retired woman has $80,000 to invest but needs to make $6,000 a year from the interest to meet certain living expenses. One bon

d investment pays 15% annual interest. The rest of it she wants to put in a CD that pays 7%.
If we let x be the amount the woman invests in the 15% bond, how much in dollars will she be able to invest in the CD?
Mathematics
1 answer:
Svetach [21]4 years ago
5 0
The woman will have to invest 40000 at .15 to earn 6000 a year in interest. that leaves her 40000 to invest in a cd.

I set this up...

6000/x=15/100
cross multiply giving you 600000=15x
divide 600000 by 15 for x.
40000

40000 from 80000 leaves 40000 for investing
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