Multiple Choice
A $128,000 trust is to be invested in bonds paying 9%, CDs paying 6%, and mortgages paying 10%. The sum of the bond and CD investment must equal the mortgage investment. To earn an $10,900 annual income from the
Investments, how much should the bank invest in bonds?
A) $42,000
B) $64,000
C) $20,000
D) $22,000
Correct Answer:
Verified
Correct Answer:
Verified
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