A $128,000 Trust Is to Be Invested in Bonds Paying

question 98

Multiple Choice

A $128,000 trust is to be invested in bonds paying 9%, CDs paying 6%, and mortgages paying 10%. The sum of the bond and CD investment must equal the mortgage investment. To earn an $10,900 annual income from the
Investments, how much should the bank invest in bonds?

• A) $42,000
• B) $64,000
• C) $20,000
• D) $22,000

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