Solve the problem. A retired couple has $120,000 to invest to obtain annual income. They want some of it invested in safe Certif

Question

2 years ago

8

Solve the problem. A retired couple has $120,000 to invest to obtain annual income. They want some of it invested in safe Certif

icates of Deposit yielding 5%. The rest they want to invest in AA bonds yielding 12% per year. How much should they invest in each to realize exactly $11,600 per year? 1) $90,000 at 12% and $30,000 at 5% O2) $80,000 at 127. and $40,000 at 5% 3) $80,000 at 5% and $40,000 at 12% 4) $70,000 at 5% and $50,000 at 12%

Mathematics