mathdad
Full Member
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- Apr 24, 2015
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Do not solve. Set up the correct equations.
A person has 20,000 dollars to invest. As the person’s financial consultant, you recommend that the money be invested in Treasury bills that yield 4 percent, Treasury bonds that yield 8 percent, and corporate bonds that yield 12 percent. The person wants to have an annual income of 1560 dollars, and the amount invested in corporate bonds must be half that invested in Treasury bills. Find the amount in each investment.
My Work:
Let x = treasury bills
Let y = treasury bonds
Let z = corporate bonds
0.40x + 0.04y + 0.12z = 20,000
x + y + z = 1560
z = (1/2)x
Correct?
A person has 20,000 dollars to invest. As the person’s financial consultant, you recommend that the money be invested in Treasury bills that yield 4 percent, Treasury bonds that yield 8 percent, and corporate bonds that yield 12 percent. The person wants to have an annual income of 1560 dollars, and the amount invested in corporate bonds must be half that invested in Treasury bills. Find the amount in each investment.
My Work:
Let x = treasury bills
Let y = treasury bonds
Let z = corporate bonds
0.40x + 0.04y + 0.12z = 20,000
x + y + z = 1560
z = (1/2)x
Correct?