Solve the Problem $\$ 112,000$ Trust Is to Be Invested in Bonds Paying

question 346

Multiple Choice

Solve the problem.
-A $\$ 112,000$ trust is to be invested in bonds paying $6 \%$ , CDs paying $5 \%$ , and mortgages paying $9 \%$ . The bond and $\mathrm { CD }$ investment must equal the mortgage investment. To earn an $\$ 8010$ annual income from the investments, how much should the bank invest in bonds?

• A) \(\$ 56,000\)
• B) \(\$ 15,000\)
• C) \(\$ 17,000\)
• D) \(\$ 39,000\)

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