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A Total of $29,000 Is Invested in Two Corporate Bonds

Question 39

Multiple Choice

A total of $29,000 is invested in two corporate bonds that pay 12% and 10.5% simple interest. The total annual interest is $3195. How much is invested in the 10.5% bond?


A) $17,000
B) $16,000
C) $19,000
D) $18,000
E) $10,000

Correct Answer:

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