Solve. -A $78,000 Trust Is to Be Invested in Bonds Paying

question 105

Multiple Choice

Solve.
-A $78,000 trust is to be invested in bonds paying 7%, CDs paying 5%, and mortgages paying 10%. The sum of the bond and CD investment must equal the mortgage investment. To earn an $6310 annual income from the
Investments, how much should the bank invest in bonds?

• A) $23,000
• B) $21,000
• C) $39,000
• D) $16,000

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