Patrick B. answered • 06/07/20
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X+Y = 50000
0.15X + 0.07y = 5000
The amounts to invest, respectively, are
Katie H.
asked • 05/31/20How much money should be invested in each to realize exactly $5000 in interest per year
Betsy a recent retiree requires $5000 per year in extra income. She has $50,000 to invest and can invest in B- rated bonds paying 15% per year or in a certificate of deposit paying 7% per year. How much money should be invested in each to realize exactly $5000 in interest per year?
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