Solved

Solve Using a System of Two Equations in Two Unknowns

Question 4

Multiple Choice

Solve using a system of two equations in two unknowns.
-A retired couple has $150,000 to invest to obtain annual income. They want some of it invested in safe Certificates of Deposit yielding 6%. The rest they want to invest in AA bonds yielding 12% per
Year. How much should they invest in each to realize exactly $15,000 per year?


A) $100,000 at 6% and $50,000 at 12%
B) $90,000 at 6% and $60,000 at 12%
C) $100,000 at 12% and $50,000 at 6%
D) $110,000 at 12% and $40,000 at 6%

Correct Answer:

verifed

Verified

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

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents