Solve the problem- precalc

Question

A. $20000.  B.$61000.  C. $18000.  D. $41000

 

A 122000 trust is to be invested in bonds paying 7%, CDs paying 5%, and mortgages paying 9%. The bonds and cds investment must equal the mortgage investment. To earn a $8940 annual income from the investments, how much should the bank invest in bonds?

Answer 1

I don't have time to finish this right now, but here's hard part.

 

0.07B +0.05C + 0.09M = 8940  total income generated

B + C + M = 122000                total invested

 

B + C = M, so M is half of the 122000

You can substitute 61000 for M in the equations and solve it as a normal system of equations.

 

I hope this gets you started!