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A Total of $23,000 Is Invested in Two Corporate Bonds

Question 3

Multiple Choice

A total of $23,000 is invested in two corporate bonds that pay 3.5% and 5% simple interest.The investor wants an annual interest income of $880 from the investments.What amount should be invested in the 3.5% bond? ​


A) $22,800
B) $18,000
C) $23,000
D) $18,300
E) $18,100

Correct Answer:

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