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1 page/≈275 words
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APA
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Mathematics & Economics
Type:
Math Problem
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# Solution to how much a couple should invest (Math Problem Sample)

Instructions:
The question asked for a solution to determine how much the couple should invest in Certificates of Deposit (CDs) yielding 6% and AA bonds yielding 11% to realize a total income of \$15,600 per year. The solution provided calculated that they should invest \$40,000 in CDs and \$120,000 in AA bonds to achieve this income goal. source..
Content:
Solution Let X= amount invested in Certificates of Deposit(6% per annum) Let Y= amount invested in AA bonds (11% per annum) Generate these 2 equations; 1 X + Y= \$160,000 ( total amount they have to invest) 2 6%X (0.06X) + 11%Y (0.11Y) = \$ 15,600 ( total income they want to realize) Using Elimination Method Let's find the value of X from the equations X= 160,000-Y Substituting this value of X in the second equation 0.06(\$160,000 - Y) + 0.11Y = \$15,600. Now, lets find Y; 0.06 * \$160,000 - 0.06Y + 0.11Y = \$15,600. \$9,600 + 0.05Y = \$15,600. 0.05Y = \$15,600 - \$9,600 0.05Y = \$6,000. Y = \$6,000 / 0.05. Y = \$120,0...
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