Solve the Problem. -A Retired Couple Has $170,000 to Invest to Obtain Annual

question 10

Multiple Choice

Solve the problem.
-A retired couple has $170,000 to invest to obtain annual income. They want some of it invested in safe Certificates of Deposit yielding 5%. The rest they want to invest in AA bonds yielding 11% per year. How much should they invest in each to realize exactly $15,700 per year?

• A) $120,000 at 11% and $50,000 at 5%
• B) $110,000 at 5% and $60,000 at 11%
• C) $120,000 at 5% and $50,000 at 11%
• D) $130,000 at 11% and $40,000 at 5%

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