Solve the problem.
-A retired couple has $180,000 to invest to obtain annual income. They want some of it invested in safeCertificates of Deposit yielding 6%. The rest they want to invest in AA bonds yielding 11% per year. Howmuch should they invest in each to realize exactly $17,300 per year?
A)$130,000 at 11% and $50,000 at 6%
B)$130,000 at 6% and $50,000 at 11%
C)$120,000 at 6% and $60,000 at 11%
D)$140,000 at 11% and $40,000 at 6%

Question

Quizplus · Accepted Answer

Let x be the amount invested in CDs at 6% and y be the amount invested in AA bonds at 11%. We have two equations: x + y = 180,000 (total investment) and 0.06x + 0.11y = 17,300 (total income). Solving these equations simultaneously gives x = 50,000 and y = 130,000, which corresponds to choice A.

Solve the Problem. -A Retired Couple Has $180,000 to Invest to Obtain Annual