8 b + 7 c + 10 m = 667000
b + c + m = 76000
b + c = m = 38000
8 b + 7 c = 667000 - 10 m = 667000 - 380000 = 287000
7 b + 7 c = 7 * 38000 = 266000
subtracting equations ... b = 287000 - 266000
A $76,000 trust is to be invested in bonds paying 8%, CDs paying 7%, and mortgages paying 10%. The bond and CD investment must equal the mortgage investment. To earn a $6670 annual income from the investments, how much should the bank invest in bonds?
A) $21,000
B) $38,000
C) $17,000
D) $19,000
1 answer
1 answer