Solved

A Retired Couple Invested a Total Of $130,000\$ 130,000 They Invested Some of the Money in Safe Certificates

Question 66

Multiple Choice

A retired couple invested a total of $130,000\$ 130,000 . They invested some of the money in safe certificates of deposit yielding 5%5 \% . The remainder they invested in AA bonds yielding 10%10 \% per year. In the first year they made a total profit of $11,000\$ 11,000 . How much did they invest at each rate?


A) $90,000\$ 90,000 at 5%5 \% and $40,000\$ 40,000 at 10%10 \%
B) $100,000\$ 100,000 at 10%10 \% and $30,000\$ 30,000 at 5%5 \%
C) $80,000\$ 80,000 at 5%5 \% and $50,000\$ 50,000 at 10%10 \%
D) $90,000\$ 90,000 at 10%10 \% and $40,000\$ 40,000 at 5%5 \%

Correct Answer:

verifed

Verified

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

Related Questions