A Trust Account Manager Has $220,000 to Be Invested

Multiple Choice

A trust account manager has $220,000 to be invested. The investment choices have current yields of 8%, 7%, and 10%. Suppose that the investment goal is to earn interest of $16,400, and risk factors make it prudent to invest some money in all three investments. What is the minimum amount that will be invested at 7%, and in this case how much will be invested at the other rates? ​

A) $100,000 at 8%, $0 at 7%, $120,000 at 10%
B) $90,000 at 8%, $110,000 at 7%, $20,000 at 10%
C) $95,000 at 8%, $115000 at 7%, $10,000 at 10%
D) $100,000 at 8%, $120,000 at 7%, $0 at 10%
E) $90,000 at 8%, $130,000 at 7%, $0 at 10%