Solve the Problem $\$ 178,000$ Trust Is to Be Invested in Bonds Paying

question 32

Multiple Choice

Solve the problem.
-A $\$ 178,000$ trust is to be invested in bonds paying $7 \%$ , CDs paying $6 \%$ , and mortgages paying $9 \%$ . The bond and CD investment together must equal the mortgage investment. To earn a $\$ 13,750$ annual income from the investments, how much should the bank invest in bonds?

• A) \(\$ 40,000\)
• B) \(\$ 89,000\)
• C) \(\$ 38,000\)
• D) \(\$ 49,000\)

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