Multiple Choice
Solve the problem.
-A $112,000 trust is to be invested in bonds paying 8%, CDs paying 6%, and mortgages paying 9%. The bond and CD investment must equal the mortgage investment. To earn an $8760 annual income from the investments,
How much should the bank invest in bonds?
A) $16,000
B) $18,000
C) $38,000
D) $56,000
Correct Answer:
Verified
Correct Answer:
Verified
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