Solved

Solve the Problem. -A $64,000 Trust Is to Be Invested in Bonds Paying

Question 503

Multiple Choice

Solve the problem.
-A $64,000 trust is to be invested in bonds paying 6%, CDs paying 5%, and mortgages paying 10%. The bond and CD investment together must equal the mortgage investment. To earn a $4910
Annual income from the investments, how much should the bank invest in bonds?


A) $21,000
B) $32,000
C) $11,000
D) $9,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions