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OpenStudy (anonymous):
Natalie, a recent retiree, requires $5,000.00 per year in extra income. She has $70,000 to invest in B-rated bonds paying 13% per year or in a Certificate deposit paying 3% per year. How much money should be invested in each to realize exactally $5,000 in interest each year?
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OpenStudy (anonymous):
say x in bonds .. then x*0.13 + (70000-x)*0.03 = 5000 solve for x
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