Answered

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Betsy, a recent​ retiree, requires ​$6,000 per year in extra income. She has ​$50,000 to invest and can invest in​ B-rated bonds paying 13​% per year or in a certificate of deposit​ (CD) paying 3​% per year. How much money should be invested in each to realize exactly ​$6,000 in interest per​ year?

Sagot :

gavinMD

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A = P × i × n

= $50,000 × 3% × 4 Years

= $6,000

$50,000 Will Be Invested In B-Rated Bonds

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