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A $86,000\$ 86,000 Trust Is to Be Invested in Bonds Paying 8%8 \%

Question 31

Multiple Choice

A $86,000\$ 86,000 trust is to be invested in bonds paying 8%8 \% , CDs paying 7%7 \% , and mortgages paying 9%9 \% . The bond and CD investment together must equal the mortgage investment. To earn a $7180\$ 7180 annual income from the investments, how much should the bank invest in bonds?


A) $43,000\$ 43,000
B) $30,000\$ 30,000
C) $13,000\$ 13,000
D) $28,000\$ 28,000

Correct Answer:

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