Multiple Choice
A $74,000 trust is to be invested in bonds paying 8%, CDs paying 5%, and mortgages paying 9%. The bond and CD investment together must equal the mortgage investment. To earn a $5930 annual income from the
Investments, how much should the bank invest in bonds?
A) $25,000
B) $37,000
C) $12,000
D) $23,000
Correct Answer:
Verified
Correct Answer:
Verified
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