Solve the Problem. -A Retired Couple Has $170,000 to Invest to Obtain Annual

Multiple Choice

Solve the problem.
-A retired couple has $170,000 to invest to obtain annual income. They want some of it invested in safe Certificates of Deposit yielding 5%. The rest they want to invest in AA bonds yielding 11% per year. How much
Should they invest in each to realize exactly $16,300 per year?

A) $120,000 at 5% and $70,000 at 12%
B) $130,000 at 5% and $60,000 at 12%
C) $130,000 at 12% and $60,000 at 5%
D) $140,000 at 12% and $50,000 at 5%