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2.3 Exercise 46

Avg difficulty 2.5

For exercises 17 and 18, use this scenario: A retired woman has $50,000 to invest but needs to make $6,000 a year from the interest to meet certain living expenses. One bond investment pays 15% annual interest. The rest of it she wants to put in a CD that pays 7%.

If we let x x be the amount the woman invests in the 15% bond, how much will she be able to invest in the CD?

OpenStax Algebra and Trigonometry 2e, 2.3 Models and Applications, exercise 46

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Adapted from College Algebra © 2021 Rice University. Licensed under CC BY 4.0. Sources: College Algebra 2e, Algebra and Trigonometry 2e, Precalculus 2e, College Algebra with Corequisite Support 2e. Imported at revision 4922e46.