Betsy, a recent retiree, requires $6000 per year in extra income. She has $50,000 to invest and

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Betsy, a recent retiree, requires $6000 per year in extra income. She has $50,000 to invest and can invest in B-rated bonds paying 15% per year or in a certificate of deposit (CD) paying 7% per year. How much money should Betsy invest in each to realize exactly $6000 in interest per year?

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College Algebra

ISBN: 9780135226865

11th Edition

Authors: Michael Sullivan, Michael Sullivan III

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