Solve the problem. Susan purchased some municipal bonds yielding 7% annually and some certificates of deposit yielding 9% annual
ly. If Susan's investment amounts to $19,000 and the annual income is $1590, how much money is invested in bonds and how much is invested in certificates of deposit? a. $13,500 in bonds; $5500 in certificates of deposit b. $5500 in bonds; $13,500 in certificates of deposit c. $13,000 in bonds; $6000 in certificates of deposit d. $6000 in bonds; $13,000 in certificates of deposit ...?
<span>Value: b + c = 19000 Interest: 0.07b + 0.09c = 1590
</span>0.07b + 0.09 (19,000 - b) = 1,590 0.07b + 1,710 - .09b = 1,590 <span>120 = .02b </span> B = 6,000 <span>C = 13,000 </span><span> So the correct answer is </span><span>d. $6000 in bonds; $13,000 in certificates of deposit. </span> Thank you for posting your question. I hope that this answer helped you. Let me know if you need more help.
