Multiple Choice
Solve the problem.
-A retired couple has $180,000 to invest to obtain annual income. They want some of it invested in safeCertificates of Deposit yielding 6%. The rest they want to invest in AA bonds yielding 11% per year. Howmuch should they invest in each to realize exactly $17,300 per year?
A) $130,000 at 11% and $50,000 at 6%
B) $130,000 at 6% and $50,000 at 11%
C) $120,000 at 6% and $60,000 at 11%
D) $140,000 at 11% and $40,000 at 6%
Correct Answer:
Verified
Correct Answer:
Verified
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