Solve the problem.
-Don James wants to invest $65,000 to earn $6,600 per year. He can invest in B-rated bonds paying 15% peryear or in a Certificate of Deposit (CD)paying 6% per year. How much money should be invested in eachto realize exactly $6,600 in interest per year?

Question

Quizplus · Accepted Answer

To earn $6,600 per year, let x be the amount invested in B-rated bonds at 15%, and y be the amount invested in a CD at 6%. We have the equations: x + y = $65,000 and 0.15x + 0.06y = $6,600. Solving these equations gives x = $30,000 and y = $35,000.

Solve the Problem. -Don James Wants to Invest $65,000 to Earn $6,600 Per