What is the answer?

Question

A person has 30,000 to invest. As the person's financial consultant, you recommend that the money be invested in Treasury Bills yielding 4%, Treasury Bonds yielding 8% and Corporate Bonds yielding 12%. The person wants an annual income of $2320 and the amount invested in Corporate Bonds must be half that in Treasury Bills. Find amount for each.

Answer 1

T Bills $4,000

T Bonds $24,000

C Bonds $2,000

.04(2) + .08(24) + .12(4) = 2.32

.04T + .08B + .12C = 2.32

.04(T) + .08(30-T-T/2) + .12(T/2) = 2.32

solve for T = 4

T/2=C=4/2 = 2

B = 30-4-2 = 24